WASHINGTON —In light of intensified terrorist activity in the Middle East, the Financial Crimes Enforcement Network (FinCEN) has issued an advisory to assist financial institutions in detecting potentially illicit transactions related to Islamic Republic of Iran-backed terrorist organizations.
The Advisory highlights the means by which certain terrorist organizations receive support from Iran and describes “several typologies these terrorist organizations use to illicitly access or circumvent the international financial system to raise, move, and spend funds.”
It also provides red flags that may assist financial institutions in identifying related suspicious activity, FinCEN explained.
“Recent events have underscored Iran’s involvement in and financing of terrorist activity in the region,” FinCEN said. “Iran seeks, among other goals, to project power by exporting terrorism throughout the Middle East and beyond by financing a range of regional armed groups, some of which are U.S.-designated Foreign Terrorist Organizations or Specially Designated Global Terrorist organizations. These terrorist organizations include Lebanese Hizballah, Hamas, the Palestinian Islamic Jihad, the Houthis, and several Iran-aligned militia groups in Iraq and Syria.”
The full advisory is available online at FIN-2024-A001.
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