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Client Alert: U.S. Department of the Treasury Targets Iran-Affiliated Groups in Iraq
The U.S. government and allies last week began a crackdown on Iraqi organizations and nationals with ties to Iran’s Islamic Revolutionary Guard Corps (“IRGC”) Qods Force (“IRGC-QF”) and its proxy groups throughout Iran and parts of the Middle East. This action was brought forward by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department’s Financial Crimes Enforcement Network (FinCEN), both of which are utilizing their respective resources to protect the Iraqi financial system from exploitation, and by extension prevent the funding of Iran-backed terrorist groups.
The U.S. government and allies last week began a crackdown on Iraqi organizations and nationals with ties to Iran’s Islamic Revolutionary Guard Corps (“IRGC”) Qods Force (“IRGC-QF”) and its proxy groups throughout Iran and parts of the Middle East. This action was brought forward by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department’s Financial Crimes Enforcement Network (FinCEN), both of which are utilizing their respective resources to protect the Iraqi financial system from exploitation, and by extension prevent the funding of Iran-backed terrorist groups.
