Iranian Leadership Asset Transparency Act 2018-01-29 Introduced in Senate Iranian Leadership Asset Transparency Act

This bill requires the Department of the Treasury, in furtherance of efforts to prevent the financing of terrorism, money laundering, or related illicit finance and to make financial institutions' required compliance with sanctions more easily understood, to submit within 270 days and annually thereafter for the next two years a report regarding:

  • the funds or other assets held in U.S. and foreign financial institutions that are directly or indirectly controlled by specified Iranian officials;
  • any equity interest such official has in an entity on Treasury's list of specially designated nationals and blocked persons or in any other sanctioned entity;
  • how such funds, assets, or equity interests were acquired and used;
  • new methods used to evade anti-money laundering and related laws, including recommendations to improve techniques to combat illicit uses of the U.S. financial system by such officials.
  • recommendations for revising U.S. economic sanctions against Iran to prevent Iranian officials from using funds or assets to develop and procure ballistic missile technology and commit human rights abuses;
  • the effectiveness of U.S. economic sanctions against Iran and how Treasury assesses such effectiveness; and
  • recommendations for improving Treasury's ability to develop and enforce additional economic sanctions against Iran if so ordered by the President.

The unclassified portion of the report shall be made available to the public and posted on Treasury's website in downloadable English, Farsi, Arabic, and Azeri versions.

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