41 Years of Failure: Will the Iranian Regime Comply with FATF?

The Iranian regime has yet again taken measures to damage Iran’s economy further. Iran has only a few days left to comply with the commitments it made to the Financial Action Task Force (FATF). Otherwise, FATF’s countermeasures could be re-imposed on Iran. Based in Paris, France, FATF is an intergovernmental organization founded in 1989 on the initiative of the G7 to initiate guidelines to combat money laundering. The FATF guidelines mandate higher-risk countries with more fragile economies to comply with guidelines designed to combat money laundering and terrorism financing. FATF has passed many bills since its establishment, including the Combating the Financing of Terrorism and Palermo Conventions. The regime must agree to comply with basic standards upon which virtually every other country in the world has agreed.

Tehran is afraid it must stop financing its terrorist proxy groups in neighboring countries such as Hezbollah in Lebanon, Houthis in Yemen and, pro-Assad forces in Syria. This is the exact opposite of what the IRGC envisions. IRGC has taken control over the Iranian national resources since the Islamic Revolution in 1979, stealing the national wealth while financing the Ayatollah’s vision of spreading terror in the region. IRGC is yet again on the verge of betraying the Iranian people.

Not complying with FATF mandates mean only one thing: harming the lives of innocent Iranian. The Islamic Republic will face more financial and money transfer problems, further complicating its financial transactions. Back in March 2019, the Iranian Foreign Ministry Spokesman said that “not joining FATF will undoubtedly make Iran’s international trade more difficult and, in some cases, impossible. It will make Iran’s partners engaged in legal transactions with Iran face serious and costly problems.” If the regime knows the consequences of its inaction, then what do they care about the most?

The answer is clear. For 41 years, the regime has contributed to expanding its ideology beyond its borders. The regime has been financing its proxy forces who carry out barbaric terrorist attacks on innocent lives. Gambling with Iran’s resources and wealth at the expense of Iranians, the Islamic Republic has destabilized the region more than ever. This is precisely why the regime is hesitant to comply with FATF regulations: because, the regime’s priority is all about expanding their power, not helping the Iranian people. These 41 years of failure have alienated the Iranian people more than ever.