US Treasury Tells Banks to Flag Suspected Iranian Money-Laundering Networks
The US Treasury's financial-crimes unit FinCEN issued an advisory ordering banks at home and abroad to urgently flag suspected money-laundering networks tied to the Iranian state. The move signals deepening pressure on Tehran on the 23rd day of the war.
The FinCEN advisory, issued late Monday, lists 12 'red flags' for suspect Iranian transactions, including fake invoicing, precious-metals trade and crypto-exchange transfers. Banks are asked to file additional reports within 30 days.
According to the South China Morning Post, the Treasury last week sanctioned 12 individuals and entities for their role in Iranian oil sales to China. The new advisory puts further strain on the link between China-based banks and the US financial system during the war.
There has been no immediate response from Beijing, which has tightened export licences for rare-earth elements in recent months in apparent reaction to US financial sanctions. President Trump's visit to Beijing this week is likely to shape the agenda further.
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