Rep. Paul Cook Votes to Publicize and Combat Iranian Government Corruption
WASHINGTON- Rep. Paul Cook (R-Apple Valley) today voted for HR 1638, the Iranian Leadership Asset Transparency Act. The bill passed the House with bipartisan support.
The US State Department classifies Iran as the world’s “foremost state sponsor of terrorism” and a country of “primary concern” for money laundering. This legislation requires the Department of Treasury to provide a report on steps that can be taken to prevent the financing of terrorism, money laundering, or related illicit finance and to help clarify the ways that financial institutions and legitimate businesses can comply with existing sanctions. The report would detail assets under control of the Iranian regime’s leadership, how the assets were acquired, and how they are being used by Iran’s top military and political leaders. The report would be submitted to Congress and available on the Treasury’s website in English as well as the three main languages used in Iran: Farsi, Arabic, and Azeri.
Many members of Iran’s senior political and military leadership have acquired significant personal wealth by using their positions to secure control of major portions of the Iranian national economy. This bill will provide public reporting on the sources and uses of concentrated wealth held by top Iranian leaders and will help businesses throughout the world avoid doing business with leaders who support terrorism.
Rep. Cook said, “This bill will help us to identify the assets of Iran’s tyrannical leaders which have been used to support terrorism against the US and our allies. By identifying these assets, we can better combat Iranian money laundering schemes and will help us to revise US sanctions to make them more effective at preventing Iranian officials from using funds to support terror and develop ballistic missile technology.”
A member of the House Natural Resources, Armed Services, and Foreign Affairs Committees, Cook served as an infantry officer and retired after 26 years as a Colonel in the U.S. Marine Corps. During his time in combat, he was awarded the Bronze Star and two Purple Hearts.