Strategic Bottlenecks and Requirements of I.R. Iran's for Interaction and Cooperation with Financial Action Task Force (FATF) and Egmont Group (EGMONT)

Document Type : Research Paper

Author

Associate Professor of International Law , International Law Group , School of National Security , Supreme National Defense University , Tehran, Iran

Abstract

Money laundering, terrorism financing, and the proliferation of weapons of mass destruction are among the most important concerns of states and international financial institutions. In the international arena, the body combating money laundering and terrorist financing is the Financial Action Task Force (FATF), which uses the expert and technical services of the Financial Intelligence Units (FIUs) called the Egmont Group to analyze the financial information of states to fight against the threats of the international financial system. The main question of this research is: what are the bottlenecks and strategic needs of Iran's J.A. in interaction with FATF and Egmont Group? In addition, by accepting FATF recommendations and requirements and implementing Egmont's financial data exchange methods, what are the security implications for Iran's national interests? The present study, which was conducted with a qualitative approach and a descriptive method, by examining the 40 recommendations of FATF, analyzed why Iran interacts and cooperates with these two groups، while paying attention to the obstacles and capacities resulting from the implementation of their legal requirements. The research results show that, on the one hand, Iran's compliance with FATF's recommendations and "Iran's Action Plan" will create opportunities for transparency in Iran's economic, financial, and banking system. On the other hand, there is no guarantee for the protection of financial information, and it is not possible to imagine a clear perspective of the implementation of the requirements of these two institutions and the disclosure of the methods of bypassing sanctions.

Keywords

Main Subjects

References

- Abbasi، Asghar. (1386)، "Introduction of the Financial Action Group against Money Laundering"، Journal of Law and Political Science، Volume 2، Number 5.  (In Persian)
- Amrani، Hanafi. (2015). "Anti-money Laundering as International Standards and the Issue of State Sovereignty"، 12 Journal Hukum Internasional، Indonesian Journal of International Law، Pp 31-160:
- Buckley، Ross P. & W. Arner، Jànos Barberis. (2017). "FinTech، RegTech، and the Reconceptualization of Financial Regulation"، "Northwestern Journal of International Law & Business Vol. 37، Issue 3.
- Dehghan، Yunus. (2017). "Examination of the strategies of combating the financing of terrorism in international law"، master's thesis، North Tehran Azad University. (In Persian)
- Duyne C. van، Petrus and Levi، Michael .(2005). "Managing the Drug Trade and Crime Money in Europe"، Routledge publication، UK.
- Farsiani، Mahmoudreza and others. (2019)، "The mutual approach of Iran and the Special Financial Action Group from the perspective of international documents"، Iranian Journal of International Politics، Volume 9، Number 1 - Serial Number 17، March 2019، pp. 139-218 . (In Persian)
- Financial Action Task Force، "Virtual Currencies: Key Definitions and Potential AML/CFT Risks"، FATF Report، June 2014،
- Financial Action Task Force، (2010). "Money Laundering Using New Payment Methods"، FATF Report، Paris، October 2010.
- Habibi، Habibullah (1402). Financial Action Task Force (FATF) in the International Law System، Shahr Danesh Publishing House. (In Persian)
- Habibi، Habibullah and Zaranshan، Shahram. (1400). "Examination of the international legitimacy of the Financial Action Task Force (FATF) and the validity of its provisions from the perspective of international documents and the practice of governments"، Comparative Law Studies Quarterly، Volume 12، Number 2 Autumn and Winter 1400، pp. 545 to 565. (In Persian)
- Hashemi، Seyyed Mohammad. (2006). The fundamental rights of the Islamic Republic of Iran، principles and general principles of the system، first volume، Mizan Publications، sixth edition، pp. 390. (In Persian)
- Hosseini، Ahmad and Fadaleh، Seyyed Mohammad. (2019). "Legal Dimensions of Iran's Joining the Financial Action Task Force (FATF)"، Scientific Quarterly of International Police Studies، 11th Volume، Number 42، Summer 2019، pp. 50-78. (In Persian)
- Joseph، Elie Alagha. (2006)، "The shifts in Hizballah's ideology: religious ideology، political ideology and political program"، Amsterdam University press.
- Kodkhodaei، Abbas Ali and Nowrozpour، Hossam (2019). "The challenge of virtual currencies in the fight against money laundering and terrorist financing with an emphasis on the actions and recommendations of the Financial Action Task Force (FATF)"، International Legal Journal، Spring and Summer 2019 - No. 62، pp. 7-29. (In Persian)
- Krieger، Tim and Meierrieks، Daniel (2011). "Terrorist financing and money laundering"، University of Paderborn، Germany، p. 11.
- Laurent Chetin، Peter (2012). Prevention of money laundering and financing of terrorism - a practical guide for bank supervisors، translator: Maryam Keshtkar، Tehran، Tash publications. (In Persian)
- Naim، Moises. (2009). "Minilateralism: The Magic Number to Get Real International Action"، Foreign Policy،
- Nazmi Ardakani، Mehdi and Rahmani، Halimah (2009). "Recommendation 9+40 in combating money laundering and terrorism financing"، Auditor's Quarterly، No. 49، Summer 2019، pp. 88-98. (In Persian)
- Nolte، Georg & pr. Byers. (2003). "United States hegemony and foundations of international law"، Cambridge University Press.
- Scott، Poynting; Jackson، Richard Murphy، and Eamon. (2010). "Contemporary State Terrorism Theory and practice"، Routledge publication، p:110
- Treeck، Dominik، Martin Anderson، and Anthony Charrie. (2021)، “A Global Approach to Fighting. Cybercrime Learning from the FATF Experience”، JLR، Vol. 20، Issue 45، Pp. 299-322.
- Wilkins، Roger. (2014). "Years and Beyond"، (Paris: FATF)
- Yousefi Sadeghlou، Ahmad، and Dahuje، Hamed. (2016). "Challenges and shortcomings of combating money laundering in Iranian law"، Private and Criminal Law Research Quarterly، No. 29، pp. 53-72. (In Persian)
- Zare Qajari، Ferdous، and Qaim Maggi، Ali. (2012) International standards for combating money laundering and terrorist financing، forty recommendations of the Special Financial Action Group، Tehran، Tash Publishing. (In Persian)

Files

History

  • Receive Date: 02 January 2023
  • Revise Date: 30 January 2023
  • Accept Date: 20 March 2023

Share

How to cite

Statistics