The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has released an Advisory to aid financial institutions in identifying potentially illicit transactions linked to terrorist organizations backed by the Islamic Republic of Iran. The Advisory outlines the methods through which these groups receive support from Iran and details various strategies they utilize to illegitimately access or bypass the global financial system in order to raise, transfer, and utilize funds. It also presents warning signs that can help financial institutions in detecting suspicious activities related to these organizations.
FinCEN Director Andrea Gacki stated, "Terrorist organizations and activity supported by and aligned with Iran should not benefit from access to the U.S. or international financial systems." She emphasized the importance of preventing terrorists from exploiting financial systems and urged financial institutions to remain vigilant in spotting and reporting any suspicious activities.
Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson commented, "Iran is continuously seeking new avenues to finance its dangerous activities, such as the proliferation of weapons, cybercrimes, and funding terrorist proxies in the region." He highlighted the commitment of the Office of Terrorism and Financial Intelligence to restricting Iran and its terrorist proxies from misusing the international financial system, particularly as the office marks its twentieth anniversary.
Recent incidents have brought to light Iran's role in sponsoring terrorist actions in the region. Iran aims to extend its influence by supporting terrorism across the Middle East and beyond, financing various regional armed groups, some of which are designated as U.S.-designated Foreign Terrorist Organizations or Specially Designated Global Terrorist organizations. These groups include Lebanese Hizballah, Hamas, the Palestinian Islamic Jihad, the Houthis, and multiple Iran-aligned militia groups in Iraq and Syria.
The complete advisory can be accessed online at FIN-2024-A001.
