Zenoo Compliance Brief
US Treasury sanctions Iranian crypto network for $150m evasion scheme
Plus, State Street hit with $7.5m OFAC fine, Lukoil gets divestiture green light, and FinCEN proposes sweeping BSA reform.
2 April 2026 · 4 min read
Treasury has moved on an Iranian cryptocurrency operation funnelling $150 million through digital assets to bypass sanctions and fund illicit activity. It's the latest signal that regulators treat crypto rails the same as traditional banking when it comes to sanctions evasion. We've also got State Street's $7.5m settlement, movement on Lukoil's exit strategy, and the substance behind FinCEN's BSA overhaul proposal that could reshape how compliance teams report and document suspicious activity.
In today's brief
- 1 How did an Iranian network move $150m through crypto without triggering US detection systems?
- 2 How did State Street's Russia sanctions controls fail to catch breaches across multiple transactions?
- 3 Can Western firms now exit Russian assets legally, or does OFAC's licence create new compliance traps?
- 4 FinCEN's revised BSA reform rule raises the bar on risk assessment: what your program design needs now.
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