Operation Economic Outcast Takes Unprecedented Action Against Sanctions Evasion Network Used by Iran
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Key facts
Source:US Treasury (U.S. Government work, public domain)
WASHINGTON, Today, as part of Operation Economic Outcast, the U.S. Department of the Treasury took unprecedented action against the A7 Network, a shadow banking network with ties to Russia used by the Iranian regime to evade sanctions.
- Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a rule that would prohibit transmittals of funds regarding transactions involving the A7 Network’s Sub-Agents.
- Additionally, FinCEN issued an Alert to help financial institutions detect and repor
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