Tag Archives | money laundering

FATF Extends Suspension of Counter-Measures against Iran

The Financial Action Task Force (FATF) has decided that Iran should not be added to its blacklist. The organisation, which is charged with taking action against money laundering and combating the financing of terrorism, said “given that Iran has draft legislation currently before Parliament, the FATF decided at its meeting this week to continue the […]

World Financial Watchdog keeps Punting on Iran

By Barbara Slavin for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The world’s financial watchdog is poised to continue suspending punitive measures against Iran for six more months to avoid creating a new crisis at a time of political fragility inside the country and uncertainty over the […]

Ex-Minister Charged with Conspiring to Evade Sanctions

By John Lee. A former economy minister and other high-profile Turkish figures have been charged with conspiracy to evade US sanctions on Iran. The indictment charges Mehmet Zafer Caglayan, along with the former head of Turkey’s state-owned Halkbank and with some of his deputies. According to a report from The Washington Post, the investigation had […]

Iran World’s “Riskiest” Country for Money Laundering

By John Lee. Iran has been listed as the country with the highest risk for money laundering. The Basel Anti-Money Laundering (AML) Index measures the risk of money laundering and terrorist financing of countries based on publicly available sources. A total of 14 indicators that deal with AML/CFT regulations, corruption, financial standards, political disclosure and […]

Jury finds US may seize Iran-Linked Office Tower

A jury in New York has found that the US government may seize a Manhattan office building from a nonprofit foundation accused of violating US sanctions against Iran. The court found that the Alavi Foundation, majority owner of the office tower, knew that its partner and the building’s minority owner, Assa Corp, was a front […]

Japan Donates $6.9m to Iranian Projects

The Government of Japan has allocated $6.9 million to five projects in Iran. The assistance, aimed at building a “tolerant and stable society” in the region, will go to the following projects over the next five years: United Nations Development Programme (UNDP): $1 million towards the restoration of Lake Urmia “via local community participation in […]

Iran, Russia Ink Banking MoU

Iran and Russia have signed an MoU on banking cooperation, covering such areas as anti-money-laundering (AML), CFT, bilateral monetary treaties and settlements in national currencies. The document was signed by Mr Kamiab, vice governor of foreign exchange affairs from the Central Bank of Iran (CBI) and Dmitry Skobelkin, Deputy Governor of the Central Bank of […]

The Downfall of two Iranian Tycoons

By Rohollah Faghihi, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. The Iranian tycoons Babak Zanjani and Reza Zarrab are now both finding themselves in dire straits. Zanjani, one of the most well-known magnates in Iran, has been sentenced to death for allegedly not paying […]