VIENNA, Va. — The Financial Crimes Enforcement Network issued advisories to banks and other financial institutions of serious deficiencies in the anti-money laundering systems of the Republic of Uzbekistan, the Turkish Cypriot administered area of Cyprus, and the Islamic Republic of Iran.
The advisories stated:
In Uzbekistan, the government has taken legal action that undermines the jurisdiction of the anti-money laundering and combating the financing of terrorism regime. Uzbekistan addressed the AML/CFT deficiencies by enacting an AML/CFT law that went into effect in January 2006. The government has now suspended implementation of the law until Jan. 1, 2013 through a series of decrees.
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