Kenneth Rijock

Kenneth Rijock

Monday, July 14, 2014

AMERICAN REGULATORS SHOW INTEREST IN TURKISH BANKS AS SANCTIONS EVASION FACILITATORS



The Federal Reserve, and the New York State Department of Financial Services have entered into a BSA/AML agreement with Ziraat Bank's New York branch, as well as its parent in Turkey, signaling serious interest in curbing Iran's sanctions evaders operating in Turkey. The bank, whose proper name is Turkiye Cuhuriyeti Ziraat Bankasi AS, is reported to have been involved with the dual Iranian-Turkish national, Reza Zaraab, who is suspected of massive Iran sanctions evasion activity

Readers who wish to review the complete text can access it here*. We have reported in a number of issues involving Turkish banks this year, regarding transactions with Iran and Iraq. You can access them through the white search box at the upper left-hand corner of this page; Simply type in your query.


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Docket No. 14-011-WA/RB-EB


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