Regulatory Alerts2011-11-28
Added
Imposition of Special Measure Against the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern
The Director of FinCEN proposes imposing a special measure against the Islamic Republic of Iran, finding it to be a jurisdiction of primary money laundering concern under 31 U.S.C. 5318A. This proposed rule would prohibit domestic financial institutions and agencies from opening or maintaining correspondent accounts for or on behalf of foreign banking institutions if the account involves Iran. The notice of proposed rulemaking invites written comments on these measures by January 27, 2012.