Armenia records only two money laundering cases in 10 years – chief banker

Public Television of Armenia, Yerevan
5 May 05

[Presenter] Only two criminal cases on charges of money laundering
have been instituted in Armenia over the last 10 years and there have
been no criminal proceedings on charges of financing terrorism, the
chairman of the Central Bank of Armenia, Tigran Sarkisyan, said today.

The two criminal cases had been launched on charges of money
laundering. The first one is the well-known scandal around the
Credit-Yerevan Bank connected to individual bills to the tune of 250m
dollars, which could be cashed in different states.

In the second case, the crime was committed by an Armenian citizen
and his bank account in an Armenian bank was frozen at the request
of the USA.

[Tigran Sarkisyan] We received information from the USA. Appropriate US
bodies informed us that they had revealed a suspicious deal and asked
us to freeze an account in one of the Armenian banks, which was done.

This is an Armenian citizen who was cooperating with foreign citizens
to illegally transfer money from the USA to Armenian banks.