Iran Boosts Efforts to Combat Money Laundering and Terror Financing with UN Assistance
Strengthening Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) Capabilities
In an effort to prevent the proceeds of organized crime from infiltrating its financial system, Iran has launched a series of initiatives aimed at strengthening its AML/CFT capabilities. The Islamic Republic’s geographical position makes it vulnerable to drug trafficking, with opiates from Afghanistan destined for markets in Europe and beyond.
Technical Assistance from the UN Office on Drugs and Crime (UNODC)
The UNODC is providing technical assistance to Iran to help implement AML/CFT measures, which are critical in preventing the misuse of financial systems by criminal organizations. Money laundering, a key tactic used by criminals to disguise illegal proceeds, fuels corruption and organized crime, distorting markets and harming society.
Progress Made by Iran
Iran has made significant strides in strengthening its AML framework since adopting legislation in 2008. The country has also set up:
- High Council on Anti-Money Laundering: to oversee implementation of the law
- Executive Secretariat: to coordinate anti-money laundering efforts
- Iranian Financial Intelligence Unit: to monitor and analyze financial transactions
UNODC Assistance and Training
UNODC has been working closely with Iranian authorities since 2007, organizing:
- Seminars: to expose officials and experts to best practices in AML/CFT
- Workshops: to share knowledge and expertise
- Training sessions: to enhance skills and capacity
The latest seminar, held on November 28-29, brought together over 138 professionals from various organizations.
Next Steps
Deputy Minister of Economic Affairs and Finance Dr. Asghar Abolhasani Hastiani thanked UNODC for its assistance, noting that it had enabled Iran to take effective steps in developing its anti-money laundering framework.
- Forthcoming AML/CFT Self-Assessment Exercise: set to take place from January 16-18, 2012
- Evaluate Iran’s progress in implementing AML/CFT measures and identify areas for improvement
With UNODC’s continued support, Iran is poised to enhance its capacity to combat money laundering and terror financing, ultimately protecting its financial system and contributing to global efforts against organized crime.