Money laundering in Iranian law: present and future

Abstract

Traces the basis for forfeiture of illicit gains from drug trafficking in Iranian law, with special emphasis on the new Bill of Law on Money Laundering in Iran. Outlines the rules for the confiscation of illegal funds or incomes that do not have all the elements of laundering, according to Article 46 of the Constitution of Iran, and further laws that have been passed since: the Revolutionary Courts and Prosecution Office Regulation, the Anti‐Drugs Act 1980, and the Anti‐Drugs Act 1988 (amended 1997). Summarises the new Bill’s provisions: kinds of money and suspicious transactions (it distinguishes between “grey”, “black” and “dirty” money); the powers of the court, which include freezing accounts and requiring information for inspections; persons subject to the Act, which include a wide range of financial and other organisations; their duties, which are reporting to the High Council a variety of activities; and the crimes and punishments.