Iran's Financial Intelligence Unit: Less than Meets the Eye
By Matthew Levitt
Michael Jacobson writes an interesting piece today about the status of FIUs in Iran and the greater Middle East:
An Iranian Financial Intelligence Unit: Less than Meets the Eye
By Michael Jacobson
April 2, 2007
The State Department's International Narcotics Control Strategy Report, released on March 1, offers a little-noted reference to a dubious claim: an Iranian government statement (made to the UN) that Tehran has established a Financial Intelligence Unit (FIU). The report notes that Iran has provided no further details. Even if the Iranian claim were true, the creation of an FIU would do little to combat terrorism financing in the nation, given Tehran's official support for terrorist groups. In other countries, FIUs are an important element of effective counterterrorism policy -- though the record of key Middle Eastern nations is somewhat mixed in this regard.
Background
FIUs are centralized, national agencies responsible for detecting and fighting terrorism financing and money laundering. Most national units operate under the umbrella of the global FIU network, the Egmont Group (named after the Palais d'Egmont in Brussels, where the group's first meeting took place). Established in 1995, Egmont has grown rapidly, from fourteen participating countries to more than 100; the number of FIUs worldwide is even larger when one considers units that do not, or have not yet, qualified for Egmont membership. In the United States, the Financial Crimes Enforcement Network (FinCEN), a bureau of the Treasury Department, serves as Washington's representative in the group.
The full article is available here.
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