Iran News ...


04/21/09

Iran enforces anti-money laundering law

Press TV - The Central Bank of Iran is enforcing the newly-passed Anti-Money Laundering law to curb possible crime, CBI chief Mahmoud Bahmani says.

"The money laundering law approved by the Guardian Council is now being implemented in the banks of the country," ILNA news agency quoted Bahmani as saying.

The Iranian Parliament (Majlis) passed the Anti-Money Laundering law on Jan. 22, 2008 and sent it to the Guardian Council for final ratification.

Bahmani says a committee has been formed to ensure the implementation of the law.

The minister of intelligence, the governor of the Central Bank of Iran (CBI) and several other ministers are among the members of the special committee in charge of the campaign against money laundering.

Money laundering, a key operation of the underground economy, is the practice of disguising illegally obtained funds so that they seem legal.

Last year, the Paris-based Financial Action Task Force (FATF) Watchdog praised the Islamic Republic's crackdown on money laundering. The 34-member financial watchdog congratulated Tehran on its commitment to seal money laundering loopholes.

"Since its October 2007 plenary meeting, the FATF has engaged with Iran and welcomes the commitment made by Iran to improve its Anti-Money Laundering/Combating the Financing of Terrorism," said the FATF statement.

... Payvand News - 04/21/09 ... --



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