U.S. Welcomes FATF Measures to Protect International Financial System from Iranian Threats

Michael R. Pompeo, Secretary of State

The United States welcomes the Financial Action Task Force’s (FATF) recent re-imposition of additional countermeasures on Iran for its failure to uphold international anti-money laundering and countering the financing of terrorism (AML/CFT) standards.  Iran has shown a willful failure to address its systemic AML/CFT deficiencies, deliberately ensuring there is no transparency in its economy so it can continue to export terrorism.  The Islamic Revolutionary Guard Corps (IRGC) continues to engage in large-scale, illicit, financing schemes to fund its malign activities.  This includes support for U.S.-designated terrorist groups like Hizballah and Hamas.  The IRGC’s illicit financing schemes are facilitated at the highest levels of Iran’s government.  The IRGC controls much of Iran’s economy, and companies around the world should err on the side of caution to avoid financing Iran’s malign activities.

The international community has made clear that Iran must live up to its commitments to behave like a normal nation.  The FATF warned Iran that it must ratify the Palermo and Terrorist Financing Conventions in line with FATF standards by February 2020, or the FATF will fully re-impose countermeasures.  We support FATF’s decision to protect the international financial system and call on FATF members to hold Iran fully accountable for its serious and continuing acts of terrorism and terror finance.