Identifier
Created
Classification
Origin
07YEREVAN211
2007-02-27 13:34:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Yerevan
Cable title:
ARMENIA SHARES USG CONCERN OVER ILLICIT CASH COURIERS
how-toVZCZCXYZ0009 RR RUEHWEB DE RUEHYE #0211 0581334 ZNR UUUUU ZZH R 271334Z FEB 07 FM AMEMBASSY YEREVAN TO RUEHC/SECSTATE WASHDC 4956 INFO RUEATRS/DEPT OF TREASURY WASHDC 0475 RHMCSUU/FBI WASHINGTON DC RHEHNSC/NSC WASHDC
UNCLAS YEREVAN 000211
SIPDIS
SIPDIS
SENSITIVE
DEPT FOR EUR/CARC, EUR/PGI, EB/ESC/TFS (KLEAHY AND LCANNON),S/CT
(PHILL),S/CT FINANCE (GALER AND NOVIS),
IO/PSC (BFITZGERALD)
NSC (THINNEN)
TREASURY FOR TFFC (DGLASER)
OFAC FOR (RWERNER)
E.O. 12958: N/A
TAGS: EFIN ETTC PREL PTER KTFN AM
SUBJECT: ARMENIA SHARES USG CONCERN OVER ILLICIT CASH COURIERS
REF: STATE 16120
Sensitive but unclassified. Please protect accordingly.
UNCLAS YEREVAN 000211
SIPDIS
SIPDIS
SENSITIVE
DEPT FOR EUR/CARC, EUR/PGI, EB/ESC/TFS (KLEAHY AND LCANNON),S/CT
(PHILL),S/CT FINANCE (GALER AND NOVIS),
IO/PSC (BFITZGERALD)
NSC (THINNEN)
TREASURY FOR TFFC (DGLASER)
OFAC FOR (RWERNER)
E.O. 12958: N/A
TAGS: EFIN ETTC PREL PTER KTFN AM
SUBJECT: ARMENIA SHARES USG CONCERN OVER ILLICIT CASH COURIERS
REF: STATE 16120
Sensitive but unclassified. Please protect accordingly.
1. (SBU) Post delivered reftel demarche to Armenian Central Bank
(CBA) Financial Monitoring Center Methodologist Armen Malkhasyan and
Analyst Aram Zakaryan on February 22. Malkhasyan said that Armenia
was very concerned about bulk cash transfers and was working to
improve its compliance with related Financial Action Taskforce
(FATF) standards. Malkhasyan explained that under the Armenian
Currency Regulation and Supervision Law passed in 2005, the CBA has
authority to restrict cross-border cash transfers. Currently, the
CBA has set the per-transaction cash export limit to a level which
is FATF compliant: no more than AMD 5 million (approximately USD
14,300). The CBA is considering introducing a declaration system
for cash imports, which are not currently regulated. The proposal
under negotiation would set the declaration limit at AMD 7.5 million
(approximately USD 21,500).
2. (SBU) Malkhasyan recognized that enforcement of the existing
export restrictions was weak and said that the CBA was working with
customs to improve this. The CBA and Customs Service have agreed to
exchange information about possible suspect cases, but there have
been no such cases to date. Malkhasyan told us that customs
officials have authority to detain suspected cash couriers, but need
additional training on how to identify and interdict suspicious
individuals. Post is providing on-going training to Armenian
customs officials on risk analysis and will look for ways to
integrate training on stopping bulk cash transfers into our existing
efforts. Given the depth of the CBA's concern about this issue,
further international assistance and cooperation on this issue would
likely be welcome.
GODFREY
SIPDIS
SIPDIS
SENSITIVE
DEPT FOR EUR/CARC, EUR/PGI, EB/ESC/TFS (KLEAHY AND LCANNON),S/CT
(PHILL),S/CT FINANCE (GALER AND NOVIS),
IO/PSC (BFITZGERALD)
NSC (THINNEN)
TREASURY FOR TFFC (DGLASER)
OFAC FOR (RWERNER)
E.O. 12958: N/A
TAGS: EFIN ETTC PREL PTER KTFN AM
SUBJECT: ARMENIA SHARES USG CONCERN OVER ILLICIT CASH COURIERS
REF: STATE 16120
Sensitive but unclassified. Please protect accordingly.
1. (SBU) Post delivered reftel demarche to Armenian Central Bank
(CBA) Financial Monitoring Center Methodologist Armen Malkhasyan and
Analyst Aram Zakaryan on February 22. Malkhasyan said that Armenia
was very concerned about bulk cash transfers and was working to
improve its compliance with related Financial Action Taskforce
(FATF) standards. Malkhasyan explained that under the Armenian
Currency Regulation and Supervision Law passed in 2005, the CBA has
authority to restrict cross-border cash transfers. Currently, the
CBA has set the per-transaction cash export limit to a level which
is FATF compliant: no more than AMD 5 million (approximately USD
14,300). The CBA is considering introducing a declaration system
for cash imports, which are not currently regulated. The proposal
under negotiation would set the declaration limit at AMD 7.5 million
(approximately USD 21,500).
2. (SBU) Malkhasyan recognized that enforcement of the existing
export restrictions was weak and said that the CBA was working with
customs to improve this. The CBA and Customs Service have agreed to
exchange information about possible suspect cases, but there have
been no such cases to date. Malkhasyan told us that customs
officials have authority to detain suspected cash couriers, but need
additional training on how to identify and interdict suspicious
individuals. Post is providing on-going training to Armenian
customs officials on risk analysis and will look for ways to
integrate training on stopping bulk cash transfers into our existing
efforts. Given the depth of the CBA's concern about this issue,
further international assistance and cooperation on this issue would
likely be welcome.
GODFREY