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Viewing cable 08DUSSELDORF3, GERMAN REGULATORS PAYING SPECIAL ATTENTION TO EUROPE-IRAN

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Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #08DUSSELDORF3.
Reference ID Created Released Classification Origin
08DUSSELDORF3 2008-01-10 13:37 2011-08-24 01:00 UNCLASSIFIED Consulate Dusseldorf
VZCZCXRO8764
OO RUEHAG RUEHBC RUEHDE RUEHDIR RUEHKUK RUEHLZ
DE RUEHDF #0003 0101337
ZNR UUUUU ZZH
O R 101337Z JAN 08
FM AMCONSUL DUSSELDORF
TO RUEHC/SECSTATE WASHDC IMMEDIATE 0108
INFO RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUCNIRA/IRAN COLLECTIVE
RUCNFRG/FRG COLLECTIVE
RHMFIUU/DEPT OF JUSTICE WASHINGTON DC
RUEHDF/AMCONSUL DUSSELDORF 0124
UNCLAS DUSSELDORF 000003 
 
SIPDIS 
 
SIPDIS 
 
PASS:  P, T, E, EEB, NEA/IR, ISN, EUR/AGS 
 
E.O. 12958: N/A 
TAGS: EFIN ECON PTER PGOV KNNP ETTC MNUC PREL GM IR
SUBJECT: GERMAN REGULATORS PAYING SPECIAL ATTENTION TO EUROPE-IRAN 
COMMERCIAL BANK 
 
REF: A. A.  07 BERLIN 2256 
 
     B. B.  07 BERLIN 2192 
 
Sensitive but Unclassified -- Not for Internet Distribution 
 
1.  (SBU) German federal banking regulators report they have 
placed the Hamburg-based Europe-Iran Commercial Bank 
(Europaeisch-Iranische Handelsbank) under "special supervision." 
 As part of Mission Germany's ongoing dialogue with the Federal 
Finance Ministry in Berlin and Bonn-based German federal bank 
regulators on Iran-related issues, senior German Federal 
Financial Supervisory Authority (BaFin) officials told 
Duesseldorf Pol/Econ Officer on January 9 that BaFin officials 
have regular meetings with the bank and closely observe their 
business activities, meeting personally with bank 
representatives four to six times a year (significantly more 
than other banks, which tend to receive only one to two visits 
annually).  Our interlocutors added that BaFin requires the 
Europe-Iran Commercial Bank to submit special reports and that 
regulatory officials evaluate their trade financing as well as 
the origin of personal deposits. 
 
2. (U) On November 12, 2007, BaFin issued a circular notice 
asking German banks and financial service institutions to take 
into consideration the October 11 Financial Action Task Force 
recommendations on exercising additional due diligence and 
scrutiny on all Iran-related transactions.  Embassy Berlin has 
provided the text of the BaFin circular to Treasury, EEB, EUR, 
and ISN. 
 
3.  (U) This message was coordinated with Embassy Berlin and 
Consulate General Hamburg. 
 
BOYSE