Identifier
Created
Classification
Origin
08BAKU159
2008-02-21 14:57:00
CONFIDENTIAL
Embassy Baku
Cable title:
IRAN REPORTEDLY LAUNDERING MONEY IN AZERBAIJAN
how-toVZCZCXRO4582 PP RUEHBC RUEHDE RUEHDIR RUEHKUK DE RUEHKB #0159/02 0521457 ZNY CCCCC ZZH P 211457Z FEB 08 ZDK FM AMEMBASSY BAKU TO RUEHC/SECSTATE WASHDC PRIORITY 4811 INFO RUCNCIS/CIS COLLECTIVE PRIORITY RUCNIRA/IRAN COLLECTIVE PRIORITY RHMFISS/CDR USEUCOM VAIHINGEN GE PRIORITY RHEHNSC/NSC WASHDC PRIORITY RUEHDIR/IRAN RPO DUBAI PRIORITY RUEKJCS/SECDEF WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY
C O N F I D E N T I A L SECTION 02 OF 02 BAKU 000159
SIPDIS
SIPDIS
TREASURY FOR COLLEEN EDDY
E.O. 12958: DECL: 02/19/2018
TAGS: PGOV PINR PREL ECON EFIN PTER IR AJ
SUBJECT: IRAN REPORTEDLY LAUNDERING MONEY IN AZERBAIJAN
***********************
* Missing Section 001 *
***********************
BAKU 02210159 002.2 OF 002
session, and we are mounting a full-court press for early
passage. However, until the law is passed and effectively
implemented, the possibility of illicit transactions remains.
Comment
--------------
5. (C) While we lack hard evidence to support "Yeni
Musavat's" claim that Iran is laundering large sums of money
in Azerbaijan, this article highlights the real
vulnerabilities that exist in the Azerbaijani financial
sector. As Azerbaijan still lacks the legislation and
enforcement tools necessary to address financial crimes
including money laundering and terrorist financing, domestic
or foreign actors - to include Iran - may well find
Azerbaijan an attractive location for illicit activities. In
addition, increased financial flows associated with income
derived from Azerbaijan's extensive oil and gas reserves may
also increasingly serve to draw outsiders seeking to exploit
weaknesses in the Azerbaijani financial system. We are
intensifying our efforts with business and finance contacts
to raise the profile of this issue and develop as much
information as possible about what may be occurring. We urge
that the team arriving in Baku on February 25 for follow-up
discussions in the context of security consultations put this
issue high on the agenda of their discussions with the GOAJ,
and that we give it a high profile at the April 14-15 EPC as
well.
DERSE
SIPDIS
SIPDIS
TREASURY FOR COLLEEN EDDY
E.O. 12958: DECL: 02/19/2018
TAGS: PGOV PINR PREL ECON EFIN PTER IR AJ
SUBJECT: IRAN REPORTEDLY LAUNDERING MONEY IN AZERBAIJAN
***********************
* Missing Section 001 *
***********************
BAKU 02210159 002.2 OF 002
session, and we are mounting a full-court press for early
passage. However, until the law is passed and effectively
implemented, the possibility of illicit transactions remains.
Comment
--------------
5. (C) While we lack hard evidence to support "Yeni
Musavat's" claim that Iran is laundering large sums of money
in Azerbaijan, this article highlights the real
vulnerabilities that exist in the Azerbaijani financial
sector. As Azerbaijan still lacks the legislation and
enforcement tools necessary to address financial crimes
including money laundering and terrorist financing, domestic
or foreign actors - to include Iran - may well find
Azerbaijan an attractive location for illicit activities. In
addition, increased financial flows associated with income
derived from Azerbaijan's extensive oil and gas reserves may
also increasingly serve to draw outsiders seeking to exploit
weaknesses in the Azerbaijani financial system. We are
intensifying our efforts with business and finance contacts
to raise the profile of this issue and develop as much
information as possible about what may be occurring. We urge
that the team arriving in Baku on February 25 for follow-up
discussions in the context of security consultations put this
issue high on the agenda of their discussions with the GOAJ,
and that we give it a high profile at the April 14-15 EPC as
well.
DERSE