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Cablegate: Presentation of Fincen Advisory On Iran-Related

VZCZCXRO0831
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

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 Nations Security Council passed
Resolution 1803 (UNSCR 1803), calling on all states to
exercise vigilance over activities of financial institutions
in their territories with all banks domiciled in Iran and
their branches and subsidiaries abroad. The FATF statement,
combined with the UN's
specific call for vigilance, illustrates the increasing risk
to the international financial system posed by the Iranian
financial sector, including the Central Bank of Iran.

Iran's AML/CFT deficiencies are exacerbated by the Government
of Iran's continued attempts to conduct prohibited
proliferation related activity and terrorist financing.
Through state-owned banks, the Government of Iran disguises
its involvement in proliferation and terrorism activities
through an array of deceptive practices specifically designed
to evade detection. The Central Bank of Iran and Iranian
commercial banks have requested that their names be removed
from global transactions in order to make it more difficult
for intermediary financial institutions to determine the true
parties in the transaction. They have also continued to
provide financial services to Iranian entities designated by
the UN Security Council in its Resolutions 1737 and 1747. The
U.S. Department of the Treasury is particularly concerned
that the Central Bank of Iran may be facilitating
transactions for sanctioned Iranian banks.

UNSCR 1803 calls on member states to exercise vigilance over
the activities of financial institutions in their territories
with all banks domiciled in Iran, and their branches and
subsidiaries abroad. While Bank Melli and Bank Saderat were
specifically noted, the United States urges all financial
institutions to take into account the risk arising from the

STATE 00029398 002 OF 003


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 the following
Iranian institutions:

AGRICULTURAL BANK (a.k.a. BANK KESHAVARZI)
Tehran, Iran
AGRICULTURAL COOPERATIVE BANK OF IRAN (a.k.a. BANK TAAVON
KESHAVARZI IRAN)
Tehran, Iran
AGRICULTURAL DEVELOPMENT BANK OF IRAN (a.k.a. BANK JOSIAIYI
KESHAHVARZI)
Tehran, Iran
ARIAN BANK (a.k.a. ARYAN BANK)
Kabul, Afghanistan
BANCO INTERNACIONAL DE DESARROLLO SA
Caracas, Venezuela
BANK KARGOSHAEE
Tehran, Iran
BANK MASKAN (a.k.a. HOUSING BANK (of Iran))
Tehran, Iran
BANK MELLAT
Tehran, Iran
BANK MELLAT
Seoul, South Korea
BANK MELLAT
Ankara, Istanbul, Izmir, Turkey
BANK MELLI IRAN
Tehran, Iran
BANK MELLI IRAN
Paris, France
BANK MELLI IRAN
Hamburg, Germany
BANK MELLI IRAN
Central, Hong Kong
BANK MELLI IRAN
Baghdad, Iraq
BANK MELLI IRAN
Muscat, Oman
BANK MELLI IRAN
Al Ain, Deira, Dubai City, Fujairah, Ras al-Khaimah, and
Sharjah, United Arab Emirates
BANK MELLI IRAN ZAO
Moscow, Russia
BANK OF INDUSTRY AND MINE (of Iran) (a.k.a. BANK SANAD VA
MADAN)
Tehran, Iran
BANK REFAH (f.k.a. WORKERS WELFARE BANK, f.k.a. BANK REFAH
KARGARAN)
Tehran, Iran
BANK SADERAT IRAN
Tehran, Iran
BANK SADERAT
Paris, France
BANK SADERAT
Frankfurt, Hamburg, Germany
BANK SADERAT
Athens, Greece
BANK SADERAT
Baalbak, Beirut, Saida, Lebanon
BANK SADERAT
Muscat, Oman
BANK SADERAT
Doha, Qatar
BANK SADERAT
Ashgabat, Turkmenistan
BANK SADERAT
Abu Dhabi, Ajman, Al Ain, Dubai City, Sharjah, United Arab
Emirates
BANK SADERAT PLC
London, United Kingdom
BANK SADERAT TASHKENT
Tashkent, Uzbekistan
BANK SEPAH
Tehran, Iran
BANK SEPAH
Paris, France
BANK SEPAH
Frankfurt, Germany
BANK SEPAH
Rome, Italy
BANK SEPAH INTERNATIONAL PLC
London, United Kingdom
BANK TEJARAT
Tehran, Iran
BANK TEJARAT
Paris, France
BANK TEJARAT
Dushanbe, Tajikistan
THE CENTRAL BANK OF IRAN (a.k.a. BANK MARKAZI JOMHOURI ISLAMI
IRAN)
Tehran, Iran

STATE 00029398 003 OF 003


EUROPAEISCH-IRANISCHE HANDELSBANK AG (f.k.a.
DEUTSCH-IRANISCHE HANDELSBANK AG)
Hamburg, Germany
EUROPAEISCH-IRANISCHE HANDELSBANK AG (f.k.a.
DEUTSCH-IRANISCHE HANDELSBANK AG)
Tehran, Iran
EXPORT DEVELOPMENT BANK OF IRAN (a.k.a. BANK TOWSEH SADERAT
IRAN)
Tehran, Iran
FUTURE BANK B.S.C.
Manama, Bahrain
IRAN OVERSEAS INVESTMENT BANK PLC (a.k.a. IRAN OVERSEAS
INVESTMENT CORPORATION LIMITED)
London, United Kingdom
KARGOZARI BANK TEJARAT
Tehran, Iran
MELLAT BANK DB AOZT (a.k.a. MELLAT BANK S/B CJSC)
Yerevan, Armenia
MELLAT BANK S/B CJSC (a.k.a. MELLAT BANK DB AOZT)
Yerevan, Armenia
MELLI BANK PLC.
London, United Kingdom
PERSIA INTERNATIONAL BANK PLC.
London, United Kingdom
PERSIA INTERNATIONAL BANK PLC.
Dubai City, United Arab Emirates

Privately Owned Iranian Financial Institutions
BANK PASARGAD
Tehran, Iran
EN BANK PJSC (a.k.a. EGHTESAD-E-NOVIN BANK)
Tehran, Iran
KARAFARIN BANK
Tehran, Iran
PARSIAN BANK
Tehran, Iran
POST BANK OF IRAN
Tehran, Iran
SAMAN BANK CORPORATION
Tehran, Iran
BANK SARMAYE
Tehran, Iran

Financial institutions also are reminded of the existing U.S.
sanctions that are administered by the Department of the
Treasury's Office of Foreign Assets Control (OFAC) with
respect to Iran and the Government of Iran, including but not
limited to Iranian Government-owned banks, as well as other
sanctions imposed on Iranian entities that have been linked
to terrorist activity and the proliferation of weapons of
mass destruction. Information about these sanctions is
available on OFAC's website at
http://www.treasury.gov/offices/enforcement/o fac/.

------------------
REPORTING DEADLINE
------------------

5. (U) Mission should provided a readout within seven (7)
business days of receipt of this cable. Please slug replies
for ISN, IO, T, TREASURY, and NEA/IR. Please include SIPDIS
in all replies.

----------------
POINT OF CONTACT
----------------

6. (U) Washington point of contact for follow-up
information is Kevin McGeehan, ISN/CPI, (202) 647-5408,
McGeehanKJ@state.sgov.gov.

7. (U) Department thanks the Mission for its assistance.
RICE

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