News ID: 208565
Published: 0854 GMT January 22, 2018

Iran amends money laundering law

Iran amends money laundering law

The bill to amend the money laundering law was passed in Iran's Parliament, said the spokesman of the Parliamentary Judicial and Legal Affairs Committee.

Responsible judiciary and legal bodies are obliged to provide the documents, passed by the cabinet, for the Secretariat of High-Council on Anti-Money Laundering, said Hassan Norouzi, IRNA reported.

The law also stipulates that all records of clients, real beneficiaries, accounts records, and transactions inside and outside the country be kept at least for five years.

The managers and employees of the executive organizations that fail to do their duties will be sentenced from three months to two years in prison or cash fine, said the MP.

   
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