Financial Regulatory Forum

New U.S. FinCEN director must bolster agency under pressure over Iran sanctions, money laundering

By Guest Contributor
September 21, 2012

By Brett Wolf

NEW YORK, Sept. 21 (Thomson Reuters Accelus) - When former Justice Department official Jennifer Shasky Calvery takes the reins at the U.S. Treasury Department’s anti-money laundering bureau on Monday, her first job is to revive the beleaguered agency amid pressure over Iran sanctions and money-laundering enforcement, sources said.

Sanctions and prosecutions against international banks creates dark market, increase risk

By Guest Contributor
September 4, 2012

By Kim R. Manchester, Thomson Reuters Accelus contributing author

TORONTO, Sept. 4 (Thomson Reuters Accelus) - The black market for Iranian oil will carry increasingly sophisticated money laundering risks for international banks engaged in correspondent banking, international trade finance and global payments. Sanctions evasion will remain the top priority for the Iranian government, state-owned enterprises and the bankers that enable firms around the globe who aim to profit from this black market.