Tehran, Iran, April 30
By Mehdi Sepahvand - Trend:
The Iranian Taxation Affairs Organization has allowed the inspection of Iranian people's bank accounts for tracking suspicious transactions as a bid to prevent crime and improve financial transparency.
According to a circular delivered to executive authorities for inaction, expert teams will be set up to constantly monitor the banking transactions of natural and legal entities in Iran and require clarification if any suspicious instant is found, Mehr news agency reported April 30.
The cases should then be reported to related bodies for legal pursuit, the circular demands.
Iran is looking forward to opening up to the international business, especially after a comprehensive deal with world powers which freed the country of sanctions. But the country has faced some criticism regarding an obscure financial system, discouraging foreign companies from conducting business with Iranian partners.
During the sanctions period, some people and entities made big money bypassing international sanctions on Iran, leading to intensification of corruption in the country, which has already been suffering from lack of transparency.
The Iranian government cabinet in a session in mid-April reviewed the Ministry of Economy's report named "Fighting Money Laundering and Terrorism Funding in the post-JCPOA Era".
The ministry's report provided statistics accumulated by the Iranian Supreme Council on Money Laundering up to the end of last Iranian fiscal year (March 19).
The council, acting on Article 49 of the Iranian Constitution, obliges the government of Iran to stop and return revenues made through illegal means and to monitor suspicious transaction and people involved.
