The nuclear accord reached last year between five Western nations and Iran has done more than stir hopes and fears about the Islamic republic's return to global markets. For U.S. sanctions experts, the deal has also created a mountain of work, according to a former Treasury Department official.
Great Britain's newly formed financial sanctions unit that is part of HM Treasury has its first supervisor, Rena Lalgie, who joins the agency in conjunction with a push by the U.K. to enforce a tougher financial sanctions regime.
Iran's recent steps to bolster its controls against money laundering and terrorist financing have resulted in few returns from wary global financial institutions, the country's top banking regulator said Friday.
With the rollback of Iran sanctions underway, more banks in the Islamic republic are likely to seek to refill their coffers through lawsuits seeking damages for the restrictions, according to sources.
The United Kingdom has begun its search for individuals to oversee and staff a new office tasked with enforcing the nation's sanctions program, according to an individual with direct knowledge of the matter.
Iran's historic reentry into global markets Saturday came with expected fanfare and protest, and few surprises. Least surprising of all, the implementation of the sanctions accord means that the toughest work for banks could lie ahead.
Iran is in talks to begin working with an intergovernmental financial-crime watchdog as the country prepares for a potential rollback of international sanctions, an official with the organization said.