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U.S. Banks Warned on Iran's "Deceptive Practices"

[AP/USA Today] The Bush administration issued a fresh warning Thursday to U.S. banks that Iran is using "an array of deceptive practices" to hide its alleged involvement in nuclear proliferation and terrorist activities. The Treasury Department's Financial Crimes Enforcement Network said that Iran's central bank, Bank Markazi, and Iranian commercial banks have requested that their names be removed from global financial transactions to make it difficult to "determine the true parties in the transaction." The U.S. government told U.S. banks that the Treasury Department is "particularly concerned that the central bank of Iran may be facilitating transactions for sanctioned Iranian banks."
2008-03-21 01:00:00
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