Last week (25 October), FinCEN (US Financial Crimes Enforcement Network) designated Iran as a “jurisdiction of primary money laundering concern” under Section 311 of the US PATRIOT Act (see Final Rule). This rule prohibits correspondent accounts in the US on behalf of Iranian financial institutions, and prohibits foreign financial institutions from processing transactions involving Iranian banks. The US has at …
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Maya Lester KC is a senior barrister (King’s Counsel) at Brick Court Chambers with a wide-ranging practice in public law, European law, competition law, international law, human...
Iran
United States