US Treasury Department Announces Sanctions on A7 Network, Accusing It of Being a Sanctions Evasion Network Involving Russia and Iran

Techub News reports that the US Treasury Department has announced unprecedented action against A7 Network. The Treasury Department accuses it of being a shadow banking network related to Russia, used by the Iranian regime to evade sanctions, and identifies it as a significant transnational criminal organization. The Financial Crimes Enforcement Network (FinCEN), a subsidiary of the Treasury Department, has proposed a rule prohibiting financial transactions involving A7 Network's sub-agents. Additionally, FinCEN has issued an alert to help financial institutions detect and report suspicious activities related to this network.