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FinCEN Warns Financial Institutions about Iranian Regime's Efforts to Evade U.S. Sanctions

In a new advisory, the Financial Crimes Enforcement Network ("FinCEN") alerted financial institutions as to ways to help better detect and report the Iranian regime's efforts to evade U.S. sanctions.

FinCEN’s advisory includes specific red flags and deceptive practices that may be employed by Iran. This notification comes just weeks ahead of the full re-imposition of U.S. sanctions (November 5, 2018), which were previously lifted under the Iran nuclear deal, also called the Joint Comprehensive Plan of Action (JCPOA).

Primary Sources

  1. U.S. Treasury Press Release: FinCEN Issues Advisory on Iranian Regime’s Illicit and Malign Activities and Attempts to Exploit the Financial System
  2. FIN-2018-A006: Advisory on the Iranian Regime’s Illicit and Malign Activities and Attempts to Exploit the Financial System

Tags

Body of Law
AML Regulation
Jurisdiction
US - Federal
Organization
Treasury / FinCEN / OFAC / CFIUS
Sub-Author
FinCEN