The Financial Action Task Force (FATF) recently added Iran to its Black List as a means of increasing pressure on the regime to stop financing terror. While this belated decision was a good move, it is unlikely that it troubled Tehran particularly. Iran has been on the Black List before and been removed from it despite its persistent state sponsorship of terror, which goes back decades. The plenary continues to ignore the terror financing of numerous other states as well as Iran, including Qatar and the Palestinian Authority, rendering its effectiveness minimal.