At the recent FATF plenary meeting in Paris, it was decided that Iran will remain on the black list (non-cooperative countries).

Accoording to The Iran Project, in a recent Paris meeting, the international money-laundering watchdog the Financial Action Task Force (FATF) announced that it will keep Iran on its blacklist.

The decision was made following “Iran’s failure to enact the Palermo and Terrorist Financing Conventions in line with the FATF Standards,” the international body said.

UAE and Uganda removed from gray list

The FATF blacklist is a term that refers to "non-cooperative countries or territories of the Financial Action Task Force". This list includes countries that FATF has determined are not cooperating in the fight against money laundering and terrorist financing.

Reportedly,  the Financial Action Task Force (FATF) had agreed to remove Iran from the list of Recommendation 7, backing down from its previous decision.

On January 22,  Iran Finance and Economic Affairs Minister Ehsan Khandouzi had announced that following a letter of protest, the president of FATF declared the reforms and changes in its standards related to United Nations Security Council Resolution 2231 to all member countries and the global network of fight against money laundering.

FATF Recommendation 7 is about targeted sanctions related to the proliferation of weapons of mass destruction, which requires countries to take the stated measures, such as confiscation of funds and assets of designated persons, without delay, in line with the resolutions of the United Nations Security Council.

FATF has 40 recommendations on money laundering and 9 recommendations on terrorist financing, based on which it examines and ranks different countries. The recommendations of this body can be implemented through the enforcement of domestic laws by countries and reduce the areas of money laundering and terrorist financing.