Posted on 03/27/2008 6:13:17 PM PDT by nuconvert
Treasury Warns Of Deception By Iran
Treasury Warns Banks That Iran Is Engaging In Deceptive Practices To Skirt Sanctions
WASHINGTON, Mar. 27, 2008
(AP) The Bush administration issued a fresh warning Thursday to U.S. banks that Iran is using "an array of deceptive practices" to hide its alleged involvement in nuclear proliferation and terrorist activities.
The Treasury Department's Financial Crimes Enforcement Network alleged that Iran is resorting to such alleged practices to evade detection and skirt financial sanctions.
"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 in its warning to banks.
For instance, the agency said that the Iran's central bank, also known as Bank Markazi, and Iranian commercial banks have requested that their names be removed from global financial transactions to make it difficult to "determine the true parties in the transaction."
It marked the government's latest effort to ramp up pressure on Iran, which the United States accuses of bankrolling terrorism and seeking a nuclear bomb.
The United States' warning to U.S. banks comes after an international financial watchdog _ the Paris-based Financial Action Task Force _ pressed its 34 member countries to urge banks to monitor their dealings in Iran. The watchdog group said Iran hasn't done enough to fight money laundering and to combat terror financing.
In Thursday's warning, the U.S. government told U.S. banks that the Treasury Department is "particularly concerned that the central bank of Iran may be facilitating transactions for sanctioned Iranian banks."
Under U.S. financial sanctions, virtually all trade and investment activities with the government of Iran _ including government-owned banks _ are prohibited. Moreover, other sanctions have been imposed on Iranian entities that the United States believes are linked to terrorist activities and the spreading of weapons of mass destruction.
The State Department, meanwhile, said vessels that arrived at U.S. ports after recent visits to Iran "will be scrutinized" because Iran has not maintained effective anti-terrorism measures in its ports.
The U.N. Security Council recently passed a third round of sanctions on Iran ordering financial assets to be frozen of additional Iranian officials and companies with links to the country's nuclear and missile program. For the first time, it also banned trade with Iran in some goods that have both civilian and military use.
Iran insists its enrichment program is intended to produce fuel for nuclear reactors that would generate electricity and has vowed to push ahead with it.
pong
Thanks for the ping.
OMG - hope we've been "scrutinizing" them all along.
“OMG - hope we’ve been “scrutinizing” them all along.”
I don’t think so. It’s something they announced that they were going to start doing a few days ago. (believe it or not)
Iran Added to Port Advisory List
http://www.washingtontimes.com/apps/pbcs.dll/article?AID=/20080322/NATION/205293801/1002
“This is the first time Iran has been placed on the port-security advisory list,...”
Well, since Bank of America only required a couple of pay stubs and a taxpayer ID to loan an illegal immigrant hundreds of thousands of dollars for a house, I wouldn’t be surprised if they’ve turned a blind eye to this kind of financing. I will be sooooo happy when we are able to get out of BofA later this spring.
The State Department, meanwhile, said vessels that arrived at U.S. ports after recent visits to Iran “will be scrutinized” because Iran has not maintained effective anti-terrorism measures in its ports.
Also known as “the sqeeze”.
Sure, you can come into port, after inspection.
Oh and you’re #39 on the list.
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