Iranian president alleges nothing being done in Iran to investigate corruption by politically exposed govt officials

The president of Iran, Hassan Rouhani, delivered a speech over the weekend in Iran alleging massive corruption by senior government officials, and claimed that over $700 million is gone that was under the control of the Minister of Petroleum, Bijan Namdar Zangeneh, and a further $2 billion is unaccounted for in foreign countries in another […]

Growing protests over corruption in global hot spots means increased risks of the movement of proceeds of corruption from PEPs to the West

2019 seems to have been a record year for mass protests by citizens marching against national corruption – at least 10 countries have had massive protests in the last few months, many of which are ongoing. Corruption at the national level is perpetrated by politically exposed persons (“PEPs“) who have access to the country’s coffers, […]

Q & A on White House sanctions over technology from foreign adversaries

Last Wednesday, the White House issued an executive order (the “Order“) under the International Emergency Economic Powers Act, 50 U.S.C. 1701, the National Emergencies Act, 50 U.S.C. 1601, and §301 of Title 3 of the United States Code, prohibiting transactions of hardware, software or other products or services that enable information processing, data processing, data storage, data retrieval or electronic communications […]

$15 million in heroin seized from Iranian truckers entering Bulgaria

The Bulgarian police have seized a transport truck from Iran attempting to cross the Bulgarian – Turkey border with 288 kilos of pure heroin, with a street value of $15 million at the low end. The heroin was dry-walled, meaning each brick of heroin was covered individually with drywalling material. According to the US 2019 […]

Iran confirms supporting an ICO and several Blockchain projects

On Tuesday, Iranian officials spoke to the Iranian media and confirmed that a government organization – Iran Telecommunication Research Center – has 4 Blockchain projects in progress that have looked at using Blockchain for policy making, threat management and business use cases for Iran. Further, they announced that a project at Sharif University, funded by […]

Iranian charged in €6.6 billion case with disrupting Iran’s economy by moving money for sanctions avoidance, immigrated to Canada

Updated 2019-04-14 Another Iranian in Canada alleged to owe millions to Iran Marjan Sheikholeslami, an Iranian foreign national, now living in Toronto, Canada, is alleged to have played a major part of a financial crime case with an Iranian petroleum executive, Reza Hamzehlou, and is on trial in absentia in Iran for disrupting Iran’s financial system […]

FinCEN issues money laundering advisory for Iran’s use of Bitcoin and digital currencies

FinCEN has issued an advisory for Iran that specifically is targeted for digital currency exchanges, banks and foreign banks so that the latter can understand their obligations under the correspondent banking system. The advisory is interesting because it is one of first instances of an attempt to provide guidance to foreign banks in respect of the […]