Comprehensive AML Information Exchange System Launch at BMI

Wednesday, September 06, 2017
A comprehensive AML information exchange system was launched at BMI in the presence of Gholamreza Panahi, Member of the Board of Directors of BMI and Deputy Chairman in international Affairs and Meysam Nasiri Ahmadabadi, Director of the Financial Monitoring and Anti-Money Laundering Department under Ministry of Economic Affairs & Finance of Iran.

As reported by Public Relations Dept. of BMI, during the ceremony, Panahi referred to Anti-Money Laundering Act passed by Iranian Parliament and emphasized the role that BMI plays in. He said;" Every proceeds with illegal origin - is obtained from illegal activities- change or keeping them are in the inclusion of AML Law."

He added that Anti-Money Laundering measures aim at preventing these proceeds to be entered the banking system and by creating an obstacle on the way of easy funds circulation of these proceeds plays an outstanding role in economic health and transparency.

Reputed International Player

This Member of the Board of Directors stated that in order to play a prominent role in the international arena and be a good actor, we need to follow international rules and standards.

He declared;" AML is a customer service. This is the thought of BMI managers. There is no contradictory between Anti-Money Laundering and serving the customers because both of them demand security and profit of customers. Valued and reputed customers definitely are willing their bank to be a transparent and reputable one.

Deputy Chairman in international Affairs declared that a way to gain reputation is launching comprehensive system of AML. After BARJAM Bank Melli Iran was determined to enforce a system of AML Information Exchange considering internal frameworks and international obligations and as a first step it started to develop a culture of AML among employees, customers and managers of banking industry all over the country. Hence we set up a system to make financial transparency and investigate suspicious account activities. We intend to upgrade it to a system with the fewest errors.

He continued;" Due in October we expect all BMI services to be done in compliance with KYC regulations and be approved by Anti-Money Laundering Department.

Teaching AML law to managers and employees is an obligatory action and launching AML information exchange system doesn't just aim at internal and business purposes. There is also a national and professional look in."

 A National Action

Also, Director of the Financial Monitoring and Anti-Money Laundering Department appreciated Bank Melli Iran measures and said;" Now, AML's converted to the major issue of Iran economy so that it is examined internationally as well."

Considering international legal obstacles for banking system, Nasiri Ahmadabadi announced;" Economic Affairs & Finance Ministry attempts to provide true potentials for banks to be able to combat money laundering."

He referred to outstanding role of BMI in Iran and abroad and continued that the deadline for Iran to render its AML measures report to International Monetary Fund inspectors and appraisers is 2018, January. Having nearly 50% of account information of customers of Iran banking industry, Bank Melli Iran will be able to play a unique role in combatting money laundering and promoting Iran's place in the world.

He reminded that this action of BMI is not merely an inland need, but is a complying action to international standards- a national action in the international arena.

Building an Anti-Money Laundering Cyber Defense

In the ceremony, Seyed Reza Anvari, Head of Anti-Money Laundering Dept. pointed out to one-year attempt of BMI in this regard and said that we needed to investigate lots of files back then to recognize suspicious accounts, but at the present employees and investors access to 9 systems simultaneously to keep track and identify suspicious accounts.

He added that creating an Anti-Money Laundering Cyber Defense is another action of BMI.

 

 

 


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