The Financial Crimes Enforcement Network today issued an alert to help financial institutions identify and stop funding streams and procurement networks supporting Iran’s Islamic Revolutionary Guard Corps, or IRGC.
The alert outlines how the IRGC facilitates and launders the proceeds of illicit oil sales by using networks of shell companies and financial facilitators, according to FinCEN. It includes red flags related to the IRGC’s oil smuggling, front company abuse and use of digital assets.
