OFAC Cracks Down on $600 Million Iranian Shadow Banking Network Exploiting Crypto for Sanctions Evasion : Analysis

In an escalation of efforts to curb Iran’s illicit financial activities, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on September 16, 2025, targeting a sophisticated shadow banking network. This operation, valued at over $600 million in cryptocurrency inflows,... Read More