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SWIFT says Iranian lenders bypassing sanctions
- Iran: Wednesday, February 13 - 2013 at 02:56
Belgium-headquartered Society for Worldwide Interbank Financial Telecommunication (Swift) has said Iranian lenders banks have been able to bypass a ban imposed last year on carrying out global financial transactions via its electronic payment system, Mehr news has reported. Iranian banks have utilised simpler methods for executing transactions with their international counterparts, sending instructions instead by telephone or email, said Alain Raes, chief executive for EMEA and Asia Pacific at SWIFT. "It's very clear that the Iranians have other means (of) moving their money around and commissioning transactions," said Raes.
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