IFP Exclusive

Iranian MPs Call for Caution in Dealing with FATF

A number of Iranian lawmakers have criticized the Financial Action Task Force (FATF) for its anti-Iran statement, and called on Iranian officials to be extremely cautious about the privileges they grant the organization.

Two Iranian lawmakers, Ali Bakhtiar and Abolfazl Aboutorabi, have slammed a public statement by the Financial Action Task Force (FATF) urging Iran to fulfil its commitments to the body, calling on the state officials to take the necessary precautions in their cooperation with the organization to avoid any problems and losses.

 

Precautions Are Necessary

According to a Farsi report by ICANA, Bakhtiar said Iran’s increased transaction with the international community requires a number of moves by the country including joining a number of global conventions such as the FATF.

Commenting on a recent anti-Iran statement by the FATF, Bakhtiar noted that, “Iran’s agreement with the FATF has different dimensions. Nevertheless, the Islamic Republic has always honoured its commitments under the agreement and will behave the same in the future.”

He further referred to the concerns voiced by some experts about the implementation of the agreement, and noted that the Iranian officials are required to take security precautions to avoid any probable problems.

“To this end, it is necessary to install firewall systems and other security programs to eliminate any likely threats and prevent acts of sabotage through software applications, particularly, in banking and trade affairs.”

Bakhtiar said currently, the licences for banking software applications used in Iran are issued by European companies.

However, he added, Iran has obliged these firms to observe the security measures.

He stressed that so far, none of these companies have managed to pose any threat to Iran’s banking system.

“For increased interactions with the international community, Iran is required to make a number of moves such as joining global conventions; however, Iranian officials are required to take certain precautions to this end.”

 

Beware of Great Losses

Commenting on the cooperation between Iran and FATF, Aboutorabi, the other Iranian parliamentarian, said the Iranian Supreme National Security Council (SNSC) has not yet consented to Iran’s accession to the organization and implementation of the bilateral agreement.

He stressed that the FATF agreement is a highly sensitive one, adding Iran’s accession to the agreement will lead to a great loss for the country.

On the FATF’s public statement on Iran, he said accession to this organization and accepting its terms and conditions will entail great losses for Iran.

This will enable the body to exercise strict supervision over Iran’s banking system, has access to the country’s political and economic information and use them for intelligence purposes.

“According to the FATF agreement, the organization will use an American software to oversee Iran’s banking and economic systems. This software would have access to Iran’s trade, financial and economic information and processes and would be able to analyse them. This will enable Americans to create a chaos in the country, whenever they wish to, by fiddling with the accounts.”

“I see no plausible reason for Iran to join the FATF. The implementation of the agreement will definitely work to the detriment of Iran,” he added.

 

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

Iran lifts Ban on WhatsApp, Google Play in a landmark decision

In a significant move towards greater digital accessibility, the Supreme Council of Cyberspace, chaired by…

8 hours ago

One child gets killed every hour in Gaza: UN

The United Nations agency for Palestine refugees (UNRWA) has announced that 14,500 Palestinian children have…

11 hours ago

Several killed in blast at explosives factory in Turkey

At least 12 people were killed and three others wounded after a blast rocked an…

11 hours ago

Zelensky claims over 3k North Korean soldiers killed, wounded in Russia

The number of killed and injured North Korean soldiers fighting alongside Russian forces in Kursk…

11 hours ago

Iran Judiciary: No complains lodged against ex-FM Zarif over dual citizenship

The spokesperson for Iran’s Judiciary clarified that no complaints have been filed against former Foreign…

11 hours ago

Iran to unveil first AI-equipped oil well

The Iranian Vice President for Science, Technology and Knowledge-Based Economy has announced the inauguration of…

14 hours ago