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Iran Tops Terror Funding List

The Financial Action Task Force, based at the Organization for Economic Cooperation and Development, said Iran has failed to crack down on money laundering and terrorist financing and reiterated a warning from last year that its members implement “effective countermeasures to protect their financial sectors from money laundering and financing of terrorism risks emanating from Iran.”

Though the task force noted Iran’s recent, though possibly symbolic, signs of engagement on terror financing issues, it indicated a concern that Iran’s failure to address the problem poses a serious threat to the global financial system.  The report comes as the Unites States is seeking tougher sanctions on Iran for its nuclear activities.

Iran is a primary supporter of Lebanon’s Hezbollah group and Palestinian Hamas.  Both represent significant terrorism risks to Israel and Iran is not likely to decrease funding to the groups given existing sanctions.

More from the AP and The New York Times.

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