The Globe and Mail reports in its Wednesday, March 11, edition that regulators are urging financial institutions to be vigilant against financial crime risks from Iran. The Globe's Alexandra Posadzki and Stefanie Marotta write that the Financial Action Task Force recently reinforced its stance on Iran, citing deficiencies in its financial crime measures. Anti-money-laundering authorities in Canada and the U.S. have issued advisories. "U.S. financial institutions should consider the FATF's stance toward these jurisdictions when reviewing their obligations and risk-based policies, procedures, and practices," the U.S. Treasury Department's Financial Crimes Enforcement Network said Friday. In Canada, banks and other companies are required to treat every financial transaction to or from Iran as high-risk and report it to the Financial Transactions and Reports Analysis Centre of Canada. Canadian banks that operate in the United States are also subject to U.S. anti-money-laundering laws. Canadian Imperial Bank of Commerce chief financial officer Robert Sedran said the lender does not have any direct exposure to Iran. He said CIBC has built up strong capital and liquidity reserves to withstand economic shocks.