There is no knowledge or evidence that Iranian arms dealers are laundering money through banks chartered in Florida.
But Florida legislators dont want that to happen.
The great money laundering schemes dont always involve the big banks, Sen. Don Gaetz, R-Niceville, said during a media conference outside the Senate chambers on Wednesday.
Gaetz is the primary sponsor of the bipartisan SB 792, which makes it illegal for financial institutions chartered in Florida to "knowingly" do business with anyone involved in the development of weapons of mass destruction by the government of Iran.
The Senate Banking and Insurance Commission on Wednesday voted to support the bill.
When you look back at 9/11, a lot was going on in the state that we had to go back and put in place regulations afterward, said Sen. Minority Leader Nan Rich, D-Sunrise, who is a co-sponsor of the bill.
The bill requires Chief Financial Officer Jeff Atwater to update state chartered banks on the rule.Banks found violating the rule face a fine that starts at $100,000.
Gaetz said the bill would make Florida the first state to impose such actions --an action that he hopes others would follow --similar to the groundbreaking 2007 state legislation that significantly strengthened the states divestment from companies that invested with Iran and Sudan.
The bill is backed by 25 members of the Senate.
The House version, HB 613, introduced by Reps. Mark Bernard, D-West Palm Beach, and Richard Corcoran, R-New Port Richey, has 24 co-sponsors.
Reach Jim Turner at jturner@sunshinestatenews.com or (772) 215-9889.
