; and (C) states that it urges jurisdictions to protect against correspondent relationships being used to bypass or evade countermeasures and risk mitigation practices and to take into account [money laundering and terrorist financing (ML/FT)] risks when considering requests by Iranian financial institutions to open branches and subsidiaries in their jurisdiction. Due to the continuing terrorist financing threat emanating from Iran, jurisdictions should consider the steps already taken and possible additional safeguards or strengthen existing ones. . (2) The Financial Action Task Force renewed its call for countermeasures on February 19, 2016, and called on Iran to address its deficiencies with respect to measures countering money laundering and terrorist financing. (3) The Financial Crimes Enforcement Network of the Department of the Treasury on November 25, 2011, issued a notice of finding that Iran is a jurisdiction of primary money laundering concern pursuant to section 5318A of title 31, United States Code. (4) The Financial Crimes Enforcement Network on November 28, 2011, issued a notice of proposed rulemaking that stated the intent to impose special measures against Iran under that section. (5) Section 1245 of the National Defense Authorization Act for Fiscal Year 2012 ( 22 U.S.C. 8513a ) designated the financial sector of Iran as a primary money laundering concern, but did not impose special measures pursuant to that designation. 402. Special measures with respect to Iran relating to its designation as a jurisdiction of primary money laundering concern (a) Prohibition on direct use of correspondent accounts A covered financial institution shall terminate any correspondent account that— (1) is established, maintained, administered, or managed in the United States for, or on behalf of, an Iranian banking institution