Identifier
Created
Classification
Origin
08STATE29398
2008-03-20 20:23:00
UNCLASSIFIED
Secretary of State
Cable title:
PRESENTATION OF FINCEN ADVISORY ON IRAN-RELATED
how-toVZCZCXRO0831 OO RUEHBC RUEHDE RUEHDIR RUEHKUK DE RUEHC #9398/01 0802028 ZNR UUUUU ZZH O 202023Z MAR 08 FM SECSTATE WASHDC TO RUCNDT/USMISSION USUN NEW YORK IMMEDIATE 1048 INFO IRAN COLLECTIVE IMMEDIATE
UNCLAS SECTION 01 OF 03 STATE 029398
SIPDIS
SIPDIS
E.O. 12958: N/A
TAGS: KNNP IR PREL PARM
SUBJECT: PRESENTATION OF FINCEN ADVISORY ON IRAN-RELATED
BUSINESS TO UNSC IRAN SANCTIONS COMMITTEE
UNCLAS SECTION 01 OF 03 STATE 029398
SIPDIS
SIPDIS
E.O. 12958: N/A
TAGS: KNNP IR PREL PARM
SUBJECT: PRESENTATION OF FINCEN ADVISORY ON IRAN-RELATED
BUSINESS TO UNSC IRAN SANCTIONS COMMITTEE
¶1. (U) This is an action request. Please see paragraph 3.
--------------
SUMMARY
--------------
¶2. (U) In response to United Nations Security Council
Resolution 1803 and the Financial Action Task Force's
February 2008 statement on the deficiencies of Iran's
anti-money laundering and combating terrorist financing
(AML/CFT) regime, the U.S. Treasury Department Financial
Crimes Enforcement Network (FinCEN) issued an advisory on
March 20 to U.S. financial institutions on the risks to the
international financial system arising from the these
deficiencies. The advisory urges all financial institutions
to take into account the risk arising from the deficiencies
in Iran's AML/CFT regime, as well as all applicable U.S. and
international sanctions programs, with regard to any possible
transactions with Iranian financial institutions provided in
the advisory.
--------------
OBJECTIVES
--------------
¶3. (U) Washington requests that Mission present the FinCEN
advisory contained in paragraph 4 to the UNSC Iran Sanctions
Committee. The Mission may also draw on paragraph two in
delivering the advisory. USUN is authorized to permit the
Committee to share this document with other UN Members
outside of the committee and to post to its own website.
--------------
TEXT OF U.S ADVISORY
--------------
¶4. (U) The following Treasury Financial Crimes Enforcement
Network (FinCEN) advisory was issued to U.S. financial
institutions on March 20, it is also available at:
www.fincen.gov/fin-2008-a002.pdf.
The Financial Crimes Enforcement Network (FinCEN) is issuing
this advisory to supplement information previously provided
on serious deficiencies present in the anti-money laundering
systems of the Islamic Republic of Iran. The Financial Action
Task Force (FATF) stated in October 2007 that Iran's lack of
a comprehensive anti-money laundering and combating the
financing of terrorism (AML/CFT) regime represents a
significant vulnerability in the international financial
system. In response to the FATF statement, Iran passed its
first AML law in February 2008. The FATF, however, reiterated
its concern about continuing deficiencies in Iran's AML/CFT
system in a statement on February 28, 2008. Further, on March
3, 2008, the United Nati