2013-12-25al-monitor.com

``Since Iran was banned from using the international money-transfer system SWIFT as of March 2012 as stipulated by US-EU embargoes, there have been many media reports that Tehran has been using Turkey's Halkbank to evade the restriction. According to reports the police have delivered to prosecutors, this is how the plan worked: A system was hatched to bypass SWIFT queries by setting up front companies in China. Then, money was transferred from Iran with falsified documents to bank accounts opened in the names of those companies in the guise of reimbursements for imports from China. The money was immediately transferred to the accounts of real or front companies in Turkey as payment for exports, and used to purchase gold. The gold was then sent via couriers to Iran, or to Dubai to be forwarded to Iran.''


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