Why Iran opposes FATF money laundering regulations

The Islamic Republic of Iran’s Minister of Interior announced his opposition to the signing of anti-money laundering regulations and the fight against financing terrorism.

Ahmad Vahidi, who is also an Islamic Revolutionary Guard Corps (IRGC) commander, while opposing the Islamic Republic’s adherence to anti-money laundering and counter-terrorism financing regulations, said: “Gentlemen who created the FATF and claim that all banking systems are under their control; why don’t they interfere with the drug smuggling economy? ” “We have a right to be pessimistic. Those who run this economy are the ones who run the FATF,” he said.

The IRGC commander is not the only official of Iran’s new government who opposes joining the FATF. Another IRGC commander, Mohsen Rezaei, who has been appointed as Vice President for Economic Affairs, was one of the main opponents of these bills during his membership in the Expediency Council.

The FATF bills have been drafted by the Financial Action Task Force as a global organization to combat money laundering and the financing of organized terrorist activities and have become a global pact.

Regardless of how much economic power the IRGC has in Iran’s economy as a nation, what is certain is that a large amount of money is in the hands of IRGC and all of its institution and companies; Institutions for which there is no clear mechanism for accounting and it is not clear how much they invest, how much they earn, what their expenses are, how much they owe in taxes they do not pay, etc.

Although lack of transparency and tax evasion is an innate habit for the IRGC and its institutions under Khamenei’s command, the rest of the world refers to these habits as clear signs of money laundering.

Source: Radio Liberty
Also read: Saudi FM, US envoy discuss Iranian support to ‘terrorist militias’

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