OFAC designates 35 Iran-linked shadow banking facilitators
Screening teams must block all dealings with newly designated Iran-linked parties
Change
OFAC designated 35 Iran-linked entities and individuals under E.O. 13902 and E.O. 13224, blocking property and prohibiting US-linked transactions.
Why it matters
Designations target Iran's rahbar intermediary network used for cross-border import-export payments. All property and interests under US jurisdiction are blocked. Strict-liability enforcement applies, with mandatory reporting on any blocked property.
Implications
- — Sanctions screening teams must update filters immediately to capture all newly designated entities and related aliases — missed matches expose institutions to strict-liability penalties
- — Payments operations teams must block any U.S.-linked transaction involving designated parties at initiation — processing such transactions triggers sanctions violations
- — Sanctions compliance teams must identify and report any blocked property to OFAC without delay — failure to report breaches regulatory obligations
Who is affected
- — Sanctions screening teams at financial institutions
- — Payments operations teams handling cross-border transactions
- — Sanctions compliance and reporting teams
What to watch
- — Additional OFAC designations targeting Iran shadow banking facilitators
- — Enforcement actions linked to failures in screening or blocking designated parties