Treasury Dismantles Iranian Regime’s Global Clandestine Currency Networks

WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against multiple networks spanning several countries for enabling Iran’s rahbar banking system to move hundreds of millions of dollars. Iran is desperate for foreign currency, and to make matters worse for the regime, it is losing substantial sums to corruption and mismanagement within the shadow banking system.“Iran’s shadow banking system is buckling under Economic Fury, and the regime is running out of ways to move money,” said Secretary of the Treasury Scott Bessent. “Every facilitator that keeps the regime afloat is putting a target on its own back. Treasury will continue to expose these networks and cut them off from the U.S.