Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
U.S. targets sanctions evasion network
The Treasury Department has announced that OFAC has designated a sanctions evasion network led by businessman Sitki Ayan that has facilitated the sale of hundreds of millions of dollars’ worth of oil for Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). Ayan’s companies have established international sales contracts for Iranian oil with foreign purchasers, arranged shipments of oil, and helped launder the proceeds, obscuring the oil’s Iranian origin and the IRGC-QF’s interest in the sales. Today’s action supplements OFAC’s May 25, 2022 designations targeting an element of this network, which facilitated the sale of hundreds of millions of dollars’ worth of Iranian oil for both the IRGC-QF and Hizballah, with the backing of senior levels of the Russian Federation government and state-run entities. Together, these networks provided important revenue sources for Iran and the IRGC-QF.
For the names and identification information of the designated parties and vessel, see BankersOnline’s OFAC Update.