Anti-money laundering body gives Iran until Oct. to complete reforms

TEHRAN, Jun. 30 (MNA) – An international group that monitors money laundering worldwide said on Friday Iran had until October to complete reforms that would bring it into line with global norms or face consequences that could further deter investors from the country.

Tehran has tried to attract foreign investors after completing a landmark 2015 agreement with the United States, Russia, China, France, Germany and Britain under which a number of sanctions were lifted in exchange for Iran agreeing to curbs on its nuclear program, Reuters reported.

The decision was adopted when US government and its allies tried to re-impose sanctions against Islamic Republic of Iran.

The organization claimed in a statement after a week of deliberations in Paris that “the FATF is disappointed with Iran’s failure to implement its action plan to address its significant AML/CFT deficiencies."

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