Treasury Department
@USTreasury
Executive agency responsible for promoting economic prosperity & ensuring financial security of the United States. Led by 79th Treasury @SecScottBessent
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Today, @FinCENnews issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information. FinCEN today also announced that it will delete previously reported information by U.S. persons from the beneficial ownership information database.
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Today, Treasury’s Office of Foreign Assets Control is moving against digital asset exchanges that the Iranian regime relies on to launder billions of dollars, maintain covert access to international financial systems, and support the Islamic Revolutionary Guard Corps, among other terrorist groups. This action targets two major digital asset exchanges used by Tehran, along with the ringleader of a network of front companies.
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Today, Treasury’s Office of Foreign Assets Control took action against multiple networks spanning several countries for enabling Iran’s rahbar banking system to move hundreds of millions of dollars. Iran is desperate for foreign currency, and to make matters worse for the regime, it is losing substantial sums to corruption and mismanagement within the shadow banking system.
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Today, @FinCENnews renewed a Geographic Targeting Order designed to combat fraud in Minnesota and protect U.S. taxpayers. Extensive schemes have fraudulently diverted state and Federal dollars meant for people who lack housing, are food insecure, have disabilities, or are otherwise eligible to receive government benefits, costing the state of Minnesota potentially billions of dollars, a portion of which has been laundered overseas. The renewed Order will continue to support law enforcement in holding fraudsters accountable.
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Today, Treasury’s Office of Foreign Assets Control sanctioned six entities and individuals in China, India, Russia, and Iran, including multiple companies serving as general sales agents for the U.S.- and European Union‑sanctioned Iranian airline Mahan Air. Although Mahan Air presents itself as a civilian carrier, it has long played a central role in enabling the Islamic Revolutionary Guard Corps.
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Today, Treasury’s Office of Foreign Assets Control designated two firms integral to an Islamic Revolutionary Guard Corps-backed extortion scheme that forces commercial vessels to purchase mandatory maritime “insurance” to transit the Strait of Hormuz. Although this coverage purports to protect vessels from risks such as seizures, these risks are overwhelmingly created by Iran itself.
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Today, @FinCENnews issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government. The schemes not only result in losses to Federal student aid programs, but in some cases, real students face difficulties enrolling in classes because of the number of fraudulently enrolled “students.”
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Today, Treasury’s Office of Foreign Assets Control designated four individuals and nine entities that form key components of Babak Zanjani broader Iranian sanctions evasion network. Zanjani has leveraged a diverse portfolio to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore.
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Today, in a sweeping action to confront narcoterrorism, Treasury’s Office of Foreign Assets Control sanctioned over 50 Mexican individuals and entities linked to the terrorist Cartel de Jalisco Nueva Generacion, which is responsible for a significant proportion of fentanyl and other deadly drugs trafficked into the United States.
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Today, Treasury’s Office of Foreign Assets Control designated a senior Egyptian Muslim Brotherhood official, along with several targets that have provided material support to Hamas, an offshoot of the Muslim Brotherhood. Two of the designated entities are sham charities tied to the Muslim Brotherhood that funneled substantial funding to Hamas’s military wing, even as the terrorist organization continues to obstruct a peaceful resolution in Gaza.
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.@SecScottBessent: @POTUS' record speaks for itself. But let me remind you that President Trump has signed the largest tax cuts in American history. Rebalanced global trade in favor of our working families. Reclaimed our position as the world’s energy superpower. And saved this country by securing its borders.
Any one of these wins would be historic on their own. But taken together, they are transformative.
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Today, following Iran’s attacks on commercial vessels in the Strait of Hormuz, Treasury’s Office of Foreign Assets Control sanctioned targets involved in an international network supporting weapons procurement efforts on behalf of the Islamic Revolutionary Guard Corps.
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Today, Treasury’s Office of Foreign Assets Control is intensifying its efforts to disrupt and degrade the illicit shipping and sanctions evasion network of Mohammad Hossein Shamkhani. This action is part of Treasury’s ongoing efforts to ramp up economic pressure on the Iranian regime after it resumed destabilizing attacks in the Strait of Hormuz.
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Today, following Iran’s resumption of attacks on international shipping in the Strait of Hormuz, Treasury’s Office of Foreign Assets Control (OFAC) sanctioned an Iranian financial facilitator who has effectively institutionalized large‑scale embezzlement within the Iranian regime, diverting publicly funded wealth offshore. OFAC today also targeted key Iranian exchange houses that move billions of dollars annually on behalf of sanctioned Iranian banks.
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Today, Treasury announced multiple actions combatting fuel smuggling schemes linked to Cartel de Jalisco Nueva Generacion, a violent terrorist drug cartel.
Today, under the leadership of @SecScottBessent and @POTUS, Treasury took action to further dismantle overseas scam operations targeting American victims.
Today, Treasury’s Office of Foreign Assets Control is designating 12 individuals and entities for their roles enabling the Islamic Revolutionary Guard Corps’ (IRGC) sale and shipment of Iranian oil to the People’s Republic of China. The IRGC relies on front companies in permissive economic jurisdictions to obfuscate its role in oil sales and funnel the revenue to the Iranian regime. Instead of using this revenue to support the struggling Iranian people, the regime directs it toward weapons development, backing terrorist proxies, and funding security forces that suppress citizens’ freedoms.
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Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control (OFAC) targeted 10 individuals and companies based in several jurisdictions across the Middle East, Asia, and Eastern Europe that are enabling efforts by Iran’s military to secure weapons, as well as raw materials with applications in Iran’s Shahed‑series unmanned aerial vehicles and ballistic missile program.
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Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control increased pressure on Iran and its proxy militias in Iraq by designating individuals and businesses exploiting Iraq’s oil sector and undermining the country’s security. Today’s action includes Ali Maarij Al-Bahadly—Iraq’s Deputy Minister of Oil, who abuses his position to facilitate the diversion of oil to be sold for the benefit of the Iranian regime—along with three senior leaders of Iran-aligned terrorist militias.
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Today, as part of Economic Fury, Treasury’s Office of Foreign Assets Control designated three Iranian foreign currency exchange houses and their associated front companies. Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each year. Because Iran primarily settles its oil sales in Chinese yuan, these exchange houses play a critical role in converting oil revenues into currencies that are more readily useable by the Iranian military and its partners and proxies.
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