A JCPOA Progress Report: Europe, Iran and ongoing AML challenges

Presented by

Moderator: Samantha Sheen | Speakers: Sue Millar, Tashfin Shafique, Shokouh Hossein Abadi and Omid Mojabi

About this talk

On 18 October 2015, Iran and the P5+1 nations adopted the Joint Comprehensive Plan of Action (JCPOA), promising an easing of Iran sanctions and greater trade for Europe. More than 12 months on, some European AML professionals continue to be uncertain about the measures needed to engage in business with Iranian banks and other businesses while also complying with national AML regulatory requirements. This webinar will look at both the measures being taken by Iranian banks in relation to their existing AML compliance frameworks and the controls that some European AML compliance functions have implemented in order to conduct business with Iran in an AML-compliant manner. Learning Objectives: •Gain greater insight into Iran’s financial services current AML regulations and how their KYC/ CDD requirements are implemented by Iranian Banks •Understand how the AML risk-based approach is being applied when assessing and the establishing new business relationships in Iran •Learn about the control measures taken in relation to transaction monitoring and sanction screening to mitigate possible AML risks related to undertaking business with Iranian businesses.

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