In a statement released in Washington, finance ministers of the Group of Seven industrial nations (G- 7) supported the report of “The Financial Action Task Force for revelation of the Iranian regime’s money laundering and terrorist-financing”
U.S. Treasury Secretary Henry Paulson, French Finance Minister Christine Lagarde and their counterparts from five other wealthy countries praised the Paris-based Financial Action Task Force, a 34-government agency.
The statement partly reads: “We particularly commend FATF for taking steps to protect the international financial system from the various money- laundering and terrorist-financing risks related to Iran, Financial institutions are advised to take into account these risks.’’
The Financial Action Task Force concluded last week that Iran represented a “significant vulnerability’’ to the international financial system.
