Watchdog Sanctions Iran Over Lax Terror Financing Laws

Mohammad Ali (@ChaudhryMAli88) Published February 22, 2020 | 09:40 AM

Paris, (UrduPoint / Pakistan Point News - 22nd Feb, 2020 ) :A multinational financial crimes watchdog on Friday faulted Iran for not doing enough to counter a "terrorist financing risk" and announced the reinstatement of punitive measures against the country.

In a statement issued after a meeting in Paris, the Financial Action Task Force (FATF) said it was rescinding a suspension of the measures, granted in 2016, to give Tehran time to work on reforms.

The FATF "fully lifts the suspension of counter-measures" it said, citing Iran's failure to enact the UN's 2001 Palermo Convention against organised crime and the Terrorist Financing Convention.

It also urged FATF member states and "all jurisdictions to apply effective counter-measures".