AML & CFT Act emphasized by top Managers
Wednesday, August 07, 2019
The first conference on "Anti-Money Laundering and Counter-Terrorist Financing " (AML & CFT ) began with discourse of speech makers emphasizing enforcement of relevant national and international rules and regulations to the utmost.
The first speech maker, Hasan Munesan, Head of Khorasan Razavi provincial department said; "Given the current situation and world oppression against Iran the issue of money-laundering and financing of terrorism is of great importance and the conference is targeted to conduct the bank directly towards intended purposes."
Head of Compliance and AML Dept., Seid Reza Anvari, pointed out to Risk High Committee formation with the membership of top managers including Managing Director, Board of Directors and heads of relevant departments as an outstanding happening in the banking network.
Highlighting money laundering rate in US and EU, he considered economic sanctions based on some flimsy excuses unfairly.
He continued his saying as; "12 AML courses have been held according to world standards in Bank Melli up until now and over 95 percent of banking accounts have been devoted Shahab Code (e-banking Id number), which is appreciable. A financial trace center was inaugurated to provide access to FIDA and CTR systems for branches personnel of Bank Melli Iran."
"Review of guidance notes, circulars and direction for suspicious transaction, design of related systems, dispatching inspectors and experts to specialized courses and integration of multiple guidance notes issued by Central Bank in a single comprehensive instruction are other measures taken by Compliance and AML Department."
In the conference, Hosein Dari, an assistant prosecutor of cybercrime, said; "criminals usually use multiple accounts to deposit money earned through illegal activities to circulate it several times then they take it out. The main problem of banking network is fake banking accounts which are created with lost or stolen banking cards, illegally sold or rented accounts and escrow accounts as well."
"Another matter is about fin-tech accounts which are built by newly-established financial institutions under the authorization of Iran's Central Bank while those accounts are naturally different from ordinary banking accounts. So some people find the situation appropriate to do their criminal offence," said Hosein Dari.
ALireza Mozafari, Deputy Head of AML & CFT in Central Bank stated; "Central Bank pursue the issue of AML and CFT vigorously. We act in cooperation and coordination with Registry Office to remove the obstacles and pave the way for fully carrying out our responsibilities."
Also, Aslan Karimi, Supervisory Director of Tehran Branches suggested a couple of solutions for implementing some systems regarding AML and CFT obligations.
In the conference, it was announced that fraud discovery system and letter of attorney system would be launched in near future.
In the end, Head of Khorasan Razavi provincial department was appreciated for enforcing rules and regulations thoroughly over its subsidiary branches. Inspecting and Auditing Supervisory Director and Head of Welfare and Health Department were other managers who were appreciated with being awarded Certificates of Appreciation.