US Treasury warns banks Iran engaging in deceptive practices
By JERUSALEM POST STAFF
The Bush administration issued a fresh warning Thursday to US banks that Iran is using "an array of deceptive practices" to hide its alleged involvement in nuclear proliferation and terrorist activities.
The Treasury Department's Financial Crimes Enforcement Network alleged that Iran is resorting to such alleged practices to evade detection and skirt financial sanctions.
For instance, the agency said that the Iran's central bank, also known as Bank Markazi, and Iranian commercial banks have requested that their names be removed from global financial transactions to make it difficult to "determine the true parties in the transaction."
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