Iran Nuclear NewsU.S. Treasury issues new warnings on Iranian banks

U.S. Treasury issues new warnings on Iranian banks

-

Reuters: The Bush administration issued a new warning to U.S. banks on Thursday that Iran’s state banks are using deceptive practices to disguise Tehran’s involvement in nuclear proliferation and terrorist activities. WASHINGTON, March 20 (Reuters) – The Bush administration issued a new warning to U.S. banks on Thursday that Iran’s state banks are using deceptive practices to disguise Tehran’s involvement in nuclear proliferation and terrorist activities.

The U.S. Treasury Department’s Financial Crimes Enforcement Network, or FinCEN, said it sent an advisory warning banks of what it called weaknesses in Iran’s first anti-money laundering law, which was passed in February. FinCEN said the deficiencies in Iran’s anti-money laundering regime were “exacerbated” by Tehran’s continuing attempts to conduct prohibited weapons proliferation activity and terrorist financing.

“Through state-owned banks, the government of Iran disguises its involvement in proliferation and terrorism activities through an array of deceptive practices specifically designed to evade detection,” FinCEN said.

It said Iran’s central bank and several commercial banks have requested that their names be removed from global transactions in order to disguise their identity. The Treasury has prohibited U.S. transactions with a number of Iranian state banks, including its largest, Bank Melli, and Bank Sepah and Bank Saderat.

The Bush administration has been waging a campaign to cut off Iran from the international banking system to put financial pressure on Tehran, which Washington accuses of trying to develop nuclear weapons and provide financial support for terrorists. (Reporting by David Lawder; Editing by Dan Grebler)

Latest news

To Stay in Power, Iran’s Regime Liquidates National Assets

For several decades, Iranian regime supreme leader Ali Khamenei has sold Iran's resources and wealth for the survival of...

Iran’s 2023 Budget Shrouded In Doubt

On January 22, the Majlis (parliament) approved the draft of the 2023 budget bill proposed by regime president Ebrahim...

Iran: People of Khoy Still Reeling From 5.9-Magnitude Earthquake

An earthquake with a magnitude of 5.9 struck northwest Iran on Saturday, killing at least three people and injuring...

Iran’s Unsolvable Air Pollution Problem

Air pollution will remain at dangerous levels and will increase for the next few days in most big cities,...

The World Must Acknowledge the Iranian People’s Right to Self-defense

Victor Hugo once said: “When dictatorship is a fact, revolution becomes a right.” Throughout history, this has been the...

Iran: 60% Of Population Is Poor

The livelihood baskets of the Iranian people are shrinking dramatically. This, in turn, has introduced new concerns to protect...

Must read

Indonesia’s Telkom says has not dropped Iran plans

Reuters: Indonesia's largest telecommunications firm, PT Telekomunikasi Indonesia Tbk,...

Afghanistan will be US’s new Vietnam: Iran speaker

AFP: Afghanistan will become a new Vietnam for the...

You might also likeRELATED
Recommended to you