U.S. Treasury targets Türkiye-based Golden Global Bank for helping Iran’s IRGC-QF move tens of millions of dollars, exposing financial institutions to sanctions-evasion and ML risks

OFAC has designated Golden Global Bank and two Türkiye-based subsidiaries for facilitating tens of millions of dollars in transactions for the IRGC-QF and providing Iranian institutions with access to international correspondent banking. Treasury says the bank was established to transfer Iranian oil revenues from China to Türkiye, where money exchangers could convert the proceeds into cash and gold, and knowingly enabled transactions…