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

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