NCA secures forfeiture of more than £3.84M from an agricultural company after tracing funds through Chinese bank accounts to suspected front companies linked to US-sanctioned Iranian oil activity

The NCA traced the funds to ENEX bank accounts in China, which had received tens of millions of pounds from suspected front companies; some of these companies were later sanctioned by the US for allegedly facilitating illicit Iranian oil sales and payments to Iran’s Qods Force. The NCA suspects the forfeited funds represent proceeds of money laundering, while the company’s owner denied criminal activity and agreed to the forfeiture…