Iran’s Finance Ministry Releases List of Individuals Suspected of Money Laundering

The Finance Ministry of Iran has released its first list of individuals suspected of having links with money laundering networks, signaling that the country is serious about fighting financial crimes. 

Head of MEFA’s Financial Intelligence Center Hadi Khani reported that 300 people had been discovered over the last five months who were suspected of having connections to money laundering networks.

“We have … sent this list to all banks, insurance firms, and the local stock market to warn them about the bad records of those individuals on money laundering,” said Khani.

Hadi Khani asserted that this move shows Iran’s clear intentions in the battle against Money Laundering (ML) despite its reluctance to join international ML alliances and measures led by the US.

“This will signal to the world that Iran is taking important and fundamental steps in fighting money laundering. If Iran is not ready to accept some (money laundering) conventions, it is because of the political agenda that exists behind them,” stated the official.

Khani was referencing Iran’s refusal to ratify all of the Financial Action Task Force’s (FATF) regulations. The FATF is a French-based organization that monitors international efforts to combat money laundering and terrorism funding.

Iran has supported all FATF conventions with the exception of two, claiming that doing so would jeopardize its attempts to evade the unfair economic restrictions imposed by the United States.

Khani stated that the MEFA intends to make a special unit for preventing money laundering cases in Iran. The ministry is also working to put in place the necessary structures and methods to combat money laundering activities in the country.

Suggested Read: Ukraine to Scale-up Fight Against Financial Crimes