Iran to form specialized anti-money laundering working groups

October 16, 2019 - 11:22

TEHRAN – The Iranian government is planning to form specialized anti-money laundering working groups to intensify the country’s campaign against financing terrorism, spokesman for the Iranian government Ali Rabiei said on Tuesday.

Highlighting ratification of appending article 14th of anti-money laundering law as a prominent step by the government to root out corruption, Rabiei said, “Based on the newly-ratified regulation, the national risk assessment working group will be duty bound to form specialized working groups to review possible threats of money laundering and financing terrorism.” 

“The move testifies that Iran is determined to counter money laundering activities and financial supports for terrorism,” Rabiei emphasized. 

“According to the regulation, the expert working groups must be formed to monitor various fields of threat assessment, national vulnerability, banking system vulnerability, exchange market vulnerability, insurance sector vulnerability and vulnerability of other credit and financial institutions and non-financial sector,” the spokesman said. 

“The entire executive bodies, including Interior Ministry, Trade Ministry, Foreign Ministry, Justice Ministry, Police, Iran Custom Administration, Central Bank and intelligence and security bodies are duty bounded to prepare required information and data for the specialized working groups,” Rabiei stated.  

At the beginning of the current year, the Expediency Council gave approval to an anti-money laundering bill seen as crucial to maintaining international trade and banking ties.

The bill on amending the law to counter money laundering was approved with certain changes and sent to the Majlis speaker to be communicated to the government.

The Expediency Council settles disputes between parliament, which approved the bill last year, and the Guardian Council, which vets all legislation and had rejected it.