Financial Action Task Force Rewards Iran Despite Continued Terror Financing

Press Release

The Financial Action Task Force -- a global watchdog that works to combat money laundering and terror financing -- has spent years warning corporations and banks around the world to avoid doing business with Iran. FATF blacklisted Iran in order to protect financial systems throughout the world from Iran's support for terrorism and other malign activities.

In a shocking reversal of policy, FATF recently announced that it would suspend counter measures against Iran for 12 months in order to "monitor Iran's progress" in implementing its recently agreed-to Action Plan.

"This reckless decision rewards Iran for only its pledge to improve its performance. Given Iran's history of covertly developing a nuclear weapons program and its current support for terrorist organizations such as Hezbollah and Hamas -- as well as Assad's brutal regime in Syria -- it is absurd that the international community should take Iran at its word," said Congressman Rothfus.

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