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Iranian Banking
Account Closures, Freezing Orders & Transferring/Receiving Money from Iran
Despite the significant lifting of sanctions on Iran in January 2016, Iranians and other British residents with Iranian backgrounds are experiencing a sudden or noticed closure of their bank accounts. In certain situations, closure of accounts have been extended to the target person’s family members including children. In all such cases, the bank often provides no explanation or reason for its decision to discontinue services.
Account Freezing Orders (AFO) are a law enforcement tool being used to fight fraud and organised crime, however, innocent Iranian nationals are also being caught up in this new legislation.
The Iran Desk at Blackstone Solicitors is here to help Iranian citizens or those with an Iranian background who face difficulties with their bank accounts, assets and investments while residing in the UK. If you have experienced closure or restrictions of your bank account or freezing orders, our dedicated team of lawyers can assist.
Unfortunately, banks often freeze accounts just because the funds emanate from Iran and not because they are genuinely considered suspicious.
If a bank freezes an account, they must provide a valid reason for doing so. The bank may be acting reasonably in continuing the freeze due to a court order. However, banks cannot continue to block access without justification. If they do, we may be able to obtain an injunction whereby the court orders the bank to release your funds and reinstate your account.
So, whilst it is possible to re-access your bank account following a freeze, it can be a lengthy process, and you will need excellent legal guidance along the way.
Whatever has happened to your finances, accounts or assets you must act quickly.
*Please note that we have a member of staff who is also fluent in Farsi.
It is vital to take advice early on and deal with the issues so that you can gain control. We can then advise on whether closures and freezing orders can be challenged and dismissed.
Free Initial Discussion – Call Us Now
If you have been subject to an Iranian bank freezing order, get in contact with us on +44 0161 929 0121. If you cannot get to a phone, email us at info@blackstonesolicitorsltd.co.uk or fill out our online enquiry form and we will call you back.
Can My Bank Freeze My Account Without Reason?
We are often contacted by British-Iranians whose bank accounts have been frozen without notice. In many instances, the bank will not provide a reason for freezing the account, nor will they state when the funds will become available again.
This is a stressful problem that nobody should have to deal with. The impact of such a financial restriction can be devastating.
Despite the funds belonging to you, only by making an application to the court, will you be allowed to withdraw a minimal sum each week to live off. You will more than likely be invited for an interview with the investigating body and asked intrusive questions about your assets, income and the specific financial transactions relating to your bank account.
An account freezing order can have a dramatic effect on your business or your personal life. Being unable to access your funds can leave you in very troublesome circumstances. Our legal team are on hand to deal with your matter and apply for the release of frozen funds for you to maintain your home, lifestyle and livelihood.
Our experienced lawyers can help dismiss the freezing order in some circumstances.
How We Can Help
- Drafting a response to requests for information
- Representing you in objecting to the AFO
- We can advise on the best way to deal with frozen accounts and transferring money from Iran. We will guide you on any requirements that you must comply with and we can advise on whether the freezing order can be challenged.
Our Approach
Our Iran Desk is committed to putting you first and fighting to achieve the release of any funds. Our department was established specifically to help Iranians and British citizens with Iranian ties.
We understand how difficult it can be to encounter issues relating to your finances.
We understand the need to work quickly and efficiently when it comes to your finances, and the need for discretion.
Contact Us
Blackstone Solicitors have extensive experience of matters involving bank account closures and issues transferring money from Iran. Simply call our Iran desk on +44 0161 929 0121. If you cannot get to a phone, email us at info@blackstonesolicitorsltd.co.uk or fill out our online enquiry form and we will call you back.
