Asia

Regional Guide

Guide Sanction Scanner
Iran

Iran

Global AML Guide


1. Are there any sanctions imposed against Iran?
    There are UN, US, and EU sanctions are in force against Iran.
2. What are the regulated institutions in Iran?
    Bank and loan cooperatives, law firms, real estate agents are regulated institutions in Iran.
3. Who are the local regulatory authorities in Iran, and which government authorities are responsible for the investigation and prosecuting money laundering criminal offenses?
    Securities and Exchange Organization of Iran and The Central Bank of the Islamic Republic of Iran are two principal Iran regulations.

    High Board for the Prevention and Prevention of Money Laundering Crimes and the Financing of Terrorism and Financial Information Center of the Ministry of Economy and Finance are anti-money laundering regulators in Iran. High Council for the Prevention and Prevention of Money Laundering Crimes and the Financing of Terrorism.
4. What is the status of Iran's FATF?
    The Mutual Evaluation Report on implementing Iran's anti-money laundering and counter-terrorism financing standards has not yet been prepared.

    FATF will take its next step according to whether Iran ratifies Terrorist financing and Palermo contracts under FATF standards. Also, It will continue to deal with the risk of terrorist financing from Iran.
5. Which global regulations Iran have to comply with?
    FATF, Islamic Revolutionary Guards Corps (IRGC).
6. What are the AML obligations of the businesses in Iran?
    Iran is a country that has taken strong measures against money laundering crimes. Legal issues in Iran are determined for all persons, institutions, and legal entities.

    Organizations in Iran must comply with Aml / CTF regulations. By applying to Know Your Customer policies, they must identify and identify customer identities before opening an account. However, institutions must perform customer due diligence, enhanced due diligence.
7. What are the local AML laws and regulations in Iran?
    Counter-Terrorist Financing Act and its Anti-Money Laundering Act.

    In Iran, businesses are obliged to submit Information, reports, and related documents to the Financial Information Center within the relevant laws and regulations' scope.

    All Information, accounts, and transactions belonging to the customer must be kept under record for five years after the customer's relationship with the business expires
8. What are the penalties for failure to comply with Anti-Money Laundering law in Iran?
    Iran has effective penalties against money laundering and terrorist financing.
9. What are the contact details of the relevant regulators in Iran?
    Central Bank of the Islamic Republic of Iran
    Mirdamad Blvd., NO.198, Tehran, Islamic Republic of Iran
    Phone: +98 (21) 29954855
10. Are violations of anti-money laundering obligations also subject to criminal sanctions in Iran?
    Yes, The Islamic Republic of Iran criminalized money laundering and sought to combat money laundering by adopting a Law and Implementation Regulation. As the regulator of all financial institutions, the Central Bank of the Islamic Republic of Iran is obliged to provide the necessary infrastructure to the institutions and monitor compliance with the regulations. Institutions that do not comply with rules may face financial penalties or imprisonment.
11. What can oblige institutions do to prevent money laundering and to comply with AML regulations in Iran?
    Sanction Scanner is an AML compliance software that provides Sanctions and Transaction Monitoring screening services. It also helps businesses better manage AML and KYC processes.

    Sanction Scanner complies with AML obligations in Iran. You can contact us to get Information about Sanction Scanner AML Compliance Solutions.
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