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Cablegate: Iran/Fatf - German Financial Regulators Urge Banks

VZCZCXRO9370
PP RUEHAG RUEHDF RUEHLZ
DE RUEHRL #2027 3101700
ZNR UUUUU ZZH
P 061700Z NOV 07
FM AMEMBASSY BERLIN
TO RUEHC/SECSTATE WASHDC PRIORITY 9726
RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY
INFO RUCNFRG/FRG COLLECTIVE
RUEHBJ/AMEMBASSY BEIJING 0909
RUEHLO/AMEMBASSY LONDON 8639
RUEHMO/AMEMBASSY MOSCOW 1869
RUEHOT/AMEMBASSY OTTAWA 1088
RUEHFR/AMEMBASSY PARIS 9187
RUEHRO/AMEMBASSY ROME 0835
RUEHKO/AMEMBASSY TOKYO 1528
RUEHDI/AMCONSUL DUBAI 0098

UNCLAS BERLIN 002027

SIPDIS

SENSITIVE

SIPDIS
STATE FOR ISN, T, NEA AND EUR

E.O. 12958: N/A
TAGS: EFIN PARM PREL MNUC KNNP PTER PGOV ECON IR GM
SUBJECT: IRAN/FATF - GERMAN FINANCIAL REGULATORS URGE BANKS
TO ENHANCE DUE DILIGENCE

REF: STATE 149648

1. (SBU) Global Affairs officer delivered reftel demarche
November 5 to German Finance Ministry Financial Crimes Desk
Officer Kristina Wogatzki and MFA International Financial
Policy Desk Officer Claudia Schuett. According to Wogatzki,
the German Financial Monitoring Association (BaFin)
distributed the German-language text of the FATF
statement/guidance on Iran - along with an advisory from the
German Government to exercise enhanced due diligence with
respect to all Iran-related transactions - to the German
Central Credit Committee (Zentraler Kreditausschuss, or ZKA)
and major German banking associations in late October.
Wogatzki noted that the ZKA and banking associations were
instructed to disseminate the information to their member
financial institutions.

2. (SBU) Schuett said the German Government remains
interested in providing clear, precise guidance to German
banks. She asked whether Treasury had provided specific
information to U.S. banks on how to determine whether Iranian
companies/banks are affiliated with entities of concern, such
as the IRGC.
TIMKEN JR

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