Tuesday, June 15, 2010

ANZ linked to Iran 'missile' bank

From: The Australian June 12, 2010 by Rowan Callick:

ONE of the world's leading experts on Iranian subterfuge has questioned why the ANZ Bank allowed itself to be closely associated with Tehran-based institution Bank Sepah, known as "the bank behind Iran's missiles".

ANZ announced this week that it had broken all links with Bank Sepah in 2007 after the introduction of UN sanctions, which are being tightened again.

Author of recently published Iran's Dirty Banks Ari Jorisch, a former US Treasury official [visiting Australia as a guest of AIJAC], said this raised a key question: "Why was ANZ conducting business with it in the first place? ...Bank Sepah was involved in illicit activity well before 2007..." .

..."ANZ should demand an explanation from Bank Sepah as to why they are still listing [ANZ] as a correspondent bank [providing foreign exchange, commercial payment and money market services] and insist they end such practices," [Jorisch] said.

...The Australian pointed this out to ANZ two days ago. [ANZ] then requested the listing be removed.

...US Treasury investigations show that Bank Sepah arranged financing for dozens of multimillion dollar deals for Iran's missile industry....

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