Iran’s parliament has adopted new amendments proposed by the government to the country’s Anti-Money Laundering (AML) law as part of efforts to improve connections to the international banking and trade system.
An article about capital and profit in money laundering replaced an old one and was approved by 148 lawmakers from a total of 210, reports said.
The new law calls for the confiscation of the capital and its profit and envisages jail terms of 2-5 years plus fines if the laundered sum exceeds 10 billion rials ($239,000).
On Sunday, Iranian MPs incorporated an article related to the Financial Intelligence Unit into the money laundering law, which outlines the body’s responsibilities.
Read the original article here: presstv.com
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