December 16, 2022
The Financial Action Task Force (FATF) has announced that due to inaction by Iran, Iran will remain on FATF’s blacklist, meaning that no respectable bank will deal with it. North Korea has been the only other country on the blacklist with Iran.
But Myanmar was added to the blacklist in October. Iran is on the blacklist for failing to take measures to prevent terrorists from using its banking system. This is a direct result of Iran funding such groups as the Lebanese Hezbollah, Palestinian Islamic Jihad and Hamas.