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Economic Sanctions

US Sanctions

This section covers the Sanctions List published by OFAC.

OFAC publishes lists of individuals and companies owned or controlled by, or acting for or on behalf of, targeted countries. It also lists individuals, groups, and entities, such as terrorists and narcotics traffickers designated under programs that are not country-specific.

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FinCEN alerts financial institutions to the potential misuse of religious charities by the Iranian regime to divert khums donations to fund terrorism

The designations target financial arrangements that allegedly enabled Iranian entities to access US dollars and transfer oil revenues through shell companies, overseas banks and currency brokers. Treasury identified networks spanning the Middle East and Asia, including arrangements used to convert proceeds into cash and gold for transfer to Iran and associated groups…

OFAC sanctions 4 individuals and 11 entities linked to Mexico’s Cartel del Noreste for laundering drug proceeds through horse racing and other businesses

Treasury identified a network of companies allegedly used to channel money into political campaigns, obtain government contracts corruptly and support cross-border drug trafficking. The designations freeze affected US assets and highlight how organised crime groups exploit legitimate commercial sectors and political connections to sustain their operations…

OFAC reaches $175,015 settlement with freight forwarder Pegasus Worldwide Logistics over apparent sanctions and reporting violations

The freight forwarder facilitated the importation of machinery supplied by a sanctioned company between September 2023 and February 2024 and subsequently failed to provide complete information for six months. OFAC classified the conduct as non-egregious but not voluntarily disclosed, highlighting sanctions exposure in international logistics and the importance of responding promptly to regulatory inquiries…

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OFAC removed 125 individuals and entities from its sanctions lists and updated 22 additional entries in latest push to modernise OFAC lists

The action removes deceased individuals, defunct entities and listings with insufficient identifying information, helping financial institutions and businesses reduce unnecessary screening alerts and potential false positives. The latest round reflects Treasury’s efforts to keep sanctions lists accurate, current and operationally effective, while reducing the compliance burden created by outdated or incomplete records…

U.S. Treasury sanctions 5 individuals and entities linked to a France-based Hamas fundraising network that allegedly moved more than $2M through MSBs, sham charities and cryptocurrency

The network reportedly used France-based charities and cryptocurrency transfers to raise and move funds to a Hamas military-wing financial facilitator. More than $1.5 million was collected after October 2023, highlighting the continued misuse of charitable organisations and digital assets for terrorist financing. Gaza-based Hamas military-wing member Saleem Abdallah Saleem al-Zaq allegedly oversaw a financial network involving money-service…

US Treasury launches Operation Economic Outcast against the Russia-linked A7 shadow banking network, combining OFAC sanctions with a FinCEN alert and proposed restrictions on fund transfers involving its sub-agents

US authorities identified more than $17 billion in transactions processed by the network’s intermediaries between January 2025 and June 2026, including activity linked to Iranian oil sales and weapons procurement. The accompanying alert identifies indicators of disguised commercial payments, falsified trade documentation and opaque intermediaries used to move funds outside conventional financial channels.

FinCEN targets A7, a Russia-linked shadow banking network, alleging it processed more than $17B in transactions to facilitate sanctions evasion and illicit finance

The network allegedly used front companies, falsified trade documents and alternative payment mechanisms to disguise transactions involving Iranian oil and weapons procurement. Treasury and FinCEN also issued financial red flags for detecting A7-related activity, highlighting the network’s use of third-country entities and complex payment structures…

 

 

U.S. Treasury targets more than 100 individuals and entities across Iran’s automotive, rail, steel and financial sectors for allegedly supporting sanctions evasion and illicit trade

Treasury also designated companies involved in supplying Iran from jurisdictions including the UAE, Türkiye, Indonesia, Hong Kong and China. The action forms part of the broader Operation Economic Outcast campaign and is particularly relevant for firms assessing indirect and third-country exposure: Treasury explicitly warns that businesses facilitating Iranian sanctions evasion or money laundering risk exclusion from the U.S. financial system…

OFAC designates 10 targets and two Mexico-based companies linked to Tren de Aragua network in $40.7 million ATM jackpotting fraud scheme involving cryptocurrency and cross-border transfers

The U.S. Treasury has sanctioned 10 individuals and two Mexico-based companies allegedly linked to a network behind more than 1,500 ATM jackpotting attacks in the U.S. The scheme allegedly used malware to force ATMs to dispense cash, with proceeds moved through financial and cryptocurrency channels. Treasury also sanctioned seven TRON blockchain addresses, highlighting the use of crypto to move and potentially launder proceeds…

U.S. Treasury sanctions 21 individuals and 25 entities linked to the Sinaloa Cartel, targeting senior figures, money launderers and corrupt officials

Designates 21 individuals and 25 entities associated with the Sinaloa Cartel’s Los Mayos faction, including alleged cartel leaders, financial facilitators and corrupt officials. The scale of the action is notable because it targets not only alleged criminal leadership but the wider commercial and financial ecosystem Treasury says enables cartel activity. For AML teams, it reinforces the importance of identifying networks of associated businesses and facilitators

U.S. Treasury’s Operation Economic Outcast sanctioned 10 individuals and entities across multiple jurisdictions for supporting Iran’s MODAFL weapons procurement network

The network allegedly facilitated the acquisition of equipment linked to Iran’s ballistic missile and UAV programmes through international suppliers.
The action highlights growing sanctions and AML risks for businesses exposed to Iran-related procurement and sanctions-evasion networks. Targets 10 individuals and entities across several jurisdictions that it says procured weapons, electronics and dual-use components for Iran’s Ministry of…

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