An evaluation of Iran's status on international regulation of money laundering

In order to fight back the harmful effects of money laundering, international law has arranged different mechanisms like systems of identifying customers, classifying customers based on their risks, systems of monitoring customer operation flow to identify suspected items and … in important documents like Vienna, Merida, Palermo Conventions, the Convention for the Suppression of the Financing of Terrorism and the Financial Action Task Force (FATF) and issued some requirements and recommendation for preventing and fighting money laundering. Thus, it is necessary for all countries to modify their internal laws and regulation to be consistent to the international regulations.Banking and law system of Iran has passed and modified some important regulation for fighting money laundering like formulating and issuing new directives and guidelines, passing new laws for fighting money laundering and suppression of the financing of terrorism and limited adoption of FATF which can be considered as good steps.  However, given the fact that Iran has not joined to some international conventions like Palermo, CFT and FATF, Iran has not been successful to match itself to the new international laws and regulations on fighting money laundering fully.