Skip to content

How to gain more from operational risk management practices.
Modern risk management technology solutions improve efficiency and provide greater visibility into risks. Today’s tools provide real-time visibility, action plans, enhanced reporting and business intelligence, and proactive notifications for operational risk. Real-time data empowers banks and financial services organizations to proactively manage risks and instantly detect and mitigate emerging issues. Click here to learn more.


Major funding sources for Iran's terrorism targeted

The Treasury Department announced on Friday that OFAC has designated the Central Bank of Iran, the National Development Fund of Iran (NDF), and Etemad Tejarate Pars Co.

Iran’s Central Bank has provided billions of dollars to the Islamic Revolutionary Guards Corps (IRGC), its Qods Force (IRGC-QF) and its terrorist proxy, Hizballah. Iran’s NDF, which is Iran’s sovereign wealth fund and whose board of trustees include Iran’s president, oil minister, and the governor of the Central Bank, has been a major source of foreign currency and funding for the IRGC-QF and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL). Etemad Tejarate Pars is an Iran-based company that is used to conceal financial transfers for MODAFL’s military purchases, including funds originating from the NDF.

For additional identification details, see BankersOnline's OFAC Update.

Filed under: 

Training View All

Penalties View All

Search Top Stories