More tensions about FATF and its toxic implications

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More tensions about FATF and its toxic implications


Financial Action Task Force
Financial Action Task Force
Analysis by PMOI/MEK

Oct. 24, 2018 - On October 19, the international group that monitors money-laundering worldwide extended its suspension of counter-measures against the Iranian regime until February in order to give the country more time to complete reforms that would bring it into line with global norms.
The mullahs’ regime attempted tried to paint the Financial Action Task Force’s decision as a victory in the face of the “Global Satan”, a term Iran usually uses for the United States. However, the FATF’s warning neutralized the mullahs’ game plan.

Referring to what he called the regime’s compliance with most of FATF’s requests, Iranian Foreign Ministry spokesperson Bahram Qasemi said: “It was expected that the FATF summit would consider these realities and avoid using some negative terms in its statement.”
Keyhan daily, known as the mouthpiece of Iranian regime Supreme Leader Ali Khamenei, also wrote: “After news [broke] about the [extension] of the suspension, media sources that paint a beautiful picture of FATF cheered the decision and considered it a defeat for the U.S. and the Zionist regime. And that’s despite [the fact] that after executing 90 percent of FATF’s requests, our country is still in the black list.”
Media outlets close to Rouhani’s government applauded the decision as a victory. But the reality of FATF’s decision revealed itself swiftly through remarks by Iranian authorities.
The state-run ISNA news agency reported on October 20 that Marshall Billingslea, FATF President and US Assistant Secretary for the Terrorist Financing in the Department of Treasury, has requested the Iranian regime to fully comply with its obligations until February 2019.
Contrary to Iranian media reports that the country has complied with most FATF request, the outcome report for the FATF Plenary, 17-19 October 2018, writes: “… the FATF expresses its disappointment that the majority of the Action Plan remains outstanding [emphasis added] and expects Iran to proceed swiftly in the reform path to ensure that it addresses all of the remaining items by completing and implementing the necessary AML/CFT reforms.”
AML/CFT refers to Anti Money Laundering and Counter-Financing of Terrorism measures. Each country or currency zone has its own anti money laundering laws that conform to FATF guidelines.
“By February 2019, the FATF expects Iran to have brought into force the necessary legislation in line with FATF standards, or the FATF will take further steps to protect against the risks emanating from deficiencies in Iran’s AML/CFT regime. The FATF also expects Iran to continue to progress with enabling regulations and other amendments,” the report adds.
Warning about doing business with Iran, FATF’s report concludes, “Iran will remain on the FATF Public Statement until the full Action Plan has been completed. Until Iran implements the measures required to address the deficiencies identified in the Action Plan, the FATF will remain concerned with the terrorist financing risk emanating from Iran and the threat this poses to the international financial system. The FATF, therefore, calls on its members and urges all jurisdictions to continue to advise their financial institutions to apply enhanced due diligence, including obtaining information on the reasons for intended transactions, to business relationships and transactions with natural and legal persons from Iran, consistent with FATF Recommendation 19.”
Keyhan writes about FATF’s decision: “There is no reason for celebrating FATF’s ultimatum.”
“The Guardian Council shouldn’t be deceived,” the piece adds, referring to the body that has to pass the parliament-approved bills into law.
But MPs close to Rouhani’s so-called “moderate” faction show a different perspective about the FATF and the roots of the challenges the Iranian regime faces.
Jafarzadeh Imenabadi warns both factions about considering the FATF a breakthrough and calls such thinking a “strategic mistake”.
“Our country’s economy is like a creature that is kept behind the doors of some obstacles, with the FATF being the most important one. Although accepting FATF conditions means these doors will open, but that doesn’t equal our passing those doors,” he adds.
“Unless we prepare our internal situation for attracting investments, even a thousand FATFs won’t do us any good.”

Credit firm clients protesting in NE Iran, demanding stolen savings returned

Clients of the Padideh credit firm protesting in Mashhad, northeast Iran
Clients of the Padideh credit firm protesting in Mashhad, northeast Iran
Reported by PMOI/MEK

Iran, Oct. 25, 2018 - Clients of the Padideh credit firm, known to be linked to the Iranian regime, rallied on Thursday in Mashhad, northeast Iran. They are demanding their stolen savings to be returned.
Fearing the protest would expand and people from all walks of life joining their ranks, the regime’s repressive police units attacked and arrested a number of the protesters. People at the scene began protesting these measures, sources say.
It is worth noting that the Caspian and Padideh credit firm clients in Tehran’s Keshavarz Avenue held another such rally on October 14. They were chanting the following:
“We will sacrifice our lives for freedom – Down with this cruelty”
“Our three branches pass us to each other, leaving us in limbo”
“Hands behinds the scenes, what have they done with our money?”
“We shall fight, we may die, yet we will not accept living in shame”
“Theft has become legal under the cloak of law”
Hamidreza Jalalipour, an expert linked to the Iranian regime, recently raised concerns about the expansion of such protests.
“We must answer to the people’s demands… you must answer so that the society becomes calm… If we don’t pay attention to these demands, it will become concerning and I can show how since last year these protest rallies are changing and these changes must be taken seriously…” he said in an interview on state TV.
“In the past year, the people’s measures have changed… Just take a look, during the past year (and even during the 1979 revolution), we had never witnessed violence. However, in the protests of the past 12 months, we have been witnessing violence… people were angry, upset; they have difficulties, people have lost their money, yet banks were set on fire and they headed towards the prosecutor’s office… These are dangerous measures. These are concerning issues that we should be all be worried about. The people’s measures must be responded to. It shouldn’t result in unrest, protests, and God forbid, violence, and then strikes… if you look at the big picture, things will get serious…”
Ahmad Hamzeh, a member of the Iranian regime’s Majlis (parliament), also raised serious concerns about increasing public protests and people revolting.
“Do people have to pour into the streets for us to hear their voices?” he asked while acknowledging unprecedented poverty and warning about a wave of unemployed and hungry Iranians launching a new round of protests and an uprising.

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