Operation Economic Outcast Sanctions Eight Canadian Money Services Businesses Enabling Iranian Regime

Several of the Targets Also Worked with Narcotrafficker and Former Olympic Snowboarder Ryan WeddingWASHINGTON—Today, as part of Operation Economic Outcast, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated eight money services businesses based in Canada that enable the Iranian regime, sanctioned entities associated with the regime, and other illicit actors that move assets into and out of Iran. These companies facilitate the exchange of Iranian rials and other currencies for digital assets to enable international transactions involving Iran. Many of these businesses have facilitated transactions with sanctioned Iranian digital asset exchanges, as well as with digital asset addresses associated with Iran’s Islamic Revolutionary Guard Corps (IRGC).