Financial Action Task Force to continue suspension of counter-measures on Iran

The international group that monitors money laundering worldwide (FATF) said on Friday Iran had until February to complete reforms that would bring it into line with global norms or face consequences.

"The Financial Action Task Force decided at its meeting this week to continue the suspension of counter-measures," it said in a statement. "However, the FATF expresses its disappointment that the majority of the Action Plan remains outstanding and expects Iran to proceed swiftly in the reform path."

(With inputs from agencies.)