FinCEN Files – UAE Central Bank failed to prevent Iran sanctions violations

According to reports, the FinCEN Files show that between 2011 and 2012, the Central Bank of the UAE allowed Dubai-based Gunes General Trading to process transactions of $142m (£110m) designed to circumvent sanctions on Iran. A US correspondent bank had filed a suspicious activity report in 2012 alerting the UAE Central Bank to the transactions, but Gunes General Trading continued …

IranIran TurkeyTurkey United StatesUnited States

About Michael O'Kane

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Michael is Senior Partner at Peters & Peters LLP. He has acted in many of the most high profile and sensitive business crime cases of the last 25 years, at Peters & Peters LLP...

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