IRAN/FATF - GERMAN FINANCIAL REGULATORS URGE BANKS

UNCLAS BERLIN 002027 SIPDIS SENSITIVE SIPDIS STATE FOR ISN, T, NEA AND EUR E.O. 12958: N/A TAGS: EFIN PARM PREL MNUC KNNP PTER PGOV ECON IR GM SUBJECT: IRAN/FATF - GERMAN FINANCIAL REGULATORS URGE BANKS TO ENHANCE DUE DILIGENCE REF: STATE 149648 ¶1. (SBU) Global Affairs officer delivered reftel demarche November 5 to German Finance Ministry Financial Crimes Desk Officer Kristina Wogatzki and MFA International Financial Policy Desk Officer Claudia Schuett. According to Wogatzki, the German Financial Monitoring Association (BaFin) distributed the German-language text of the FATF statement/guidance on Iran - along with an advisory from the German Government to exercise enhanced due diligence with respect to all Iran-related transactions - to the German Central Credit Committee (Zentraler Kreditausschuss, or ZKA) and major German banking associations in late October. Wogatzki noted that the ZKA and banking associations were instructed to disseminate the information to their member financial institutions. ¶2. (SBU) Schuett said the German Government remains interested in providing clear, precise guidance to German banks. She asked whether Treasury had provided specific information to U.S. banks on how to determine whether Iranian companies/banks are affiliated with entities of concern, such as the IRGC. TIMKEN JR