Bahrain public prosection refers Iran’s Central Bank, along with 12 others to court for laundering over $1 billion

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Bahrain’s public prosecutor has referred 13 banks, including Iran’s Central Bank, to court for money laundering and other “unlawful banking practices” carried out between 2008 and 2012 with the aim of circumventing sanctions. The transfers are reported as totalling over US$1.3 billion. The abuse of legitimate Financial Institutions may occur anywhere, and Financial Institutions should remain especially vigilant on attempts to circumvent sanctions.

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