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U.S. Treasury Urges Caution in Doing Business with Iranian Central Bank
By Matt Squire
printThe U.S. Treasury Department warned financial institutions to use caution when doing business with Iran's central bank, Bank Markazi, and other Iranian financial institutions, citing possible illicit activities. The Treasury's Financial Crimes Enforcement Network (FinCEN) said in a statement Thursday that it is "particularly concerned" that Bank Markazi is facilitating transactions for Iranian commercial banks that have been blacklisted by the United States. The central bank may be disguising transactions intended to support Iran's efforts to develop nuclear weapons and terrorist activities, said FinCEN. Both the central bank and commercial banks in Iran have requested that their names be removed...
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