Tag: shadow_banking
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Treasury Sanctions Iraqi Bank and Iranian Offshore Lenders, FinCEN Warns Banks on Charity Abuse
FinCEN's alert under Operation Economic Outcast asks financial institutions to report diversion of khums religious tithes through charity networks, while Treasury blocks an Iraqi bank, Iranian offshore banks, oil intermediaries and exchange houses.
Politics and GovernmentBusinessLaw EnforcementIranUSAFederal GovernmentBankingLegalMiddle EastMilitaryWorldIraqFinancial Markets FinCENOperation Economic Outcastreligious charity networkskhumsU.S. Department of the Treasuryfinancial institutionsFinancial Crimes Enforcement NetworkIran sanctionsInternational Development BankScott BessentOffice of Foreign Assets Controlshadow bankingUS TreasuryIranian regimereligious charitiesterrorism financing
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Treasury Targets A7 Network Shadow Banking Ring Used by Iran to Evade Sanctions
FinCEN proposes rule barring fund transmittals tied to the A7 Network's Sub-Agents and issues an alert to help banks spot suspicious activity, as OFAC sanctions the Russia-linked network.
Politics and GovernmentBusinessLaw EnforcementUSAIranRussiaFederal GovernmentBankingFinancial MarketsLegalMilitary A7 NetworkFinCENIran sanctions evasionOffice of Foreign Assets ControlOperation Economic Outcastshadow bankingFinancial Crimes Enforcement Network
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U.S. Treasury Sanctions Iranian LPG Smuggling and Shadow Banking Networks
The U.S. Treasury has designated a network of individuals, entities, and vessels involved in illicitly shipping Iranian liquid petroleum gas disguised as Omani, and a shadow banking network moving hundreds of millions for sanctioned Iranian banks, under "Economic Fury."
Politics and GovernmentBusinessConflictFederal GovernmentEconomyBankingTradeMiddle EastAsia IranSanctionsUS TreasuryOFACLiquid Petroleum GasShadow BankingSmugglingEconomic Fury