Zenoo Compliance Brief
US Treasury sanctions Iranian crypto network for $150m evasion scheme
Plus, OFAC fines State Street $7.5m over Russian sanctions screening..., OFAC greenlights Lukoil International sale negotiations under..., FinCEN Proposes Overhauled BSA AML/CFT Program Rule With....
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 this edition
- Iran built a $150m crypto laundromat, and it took industrial-scale design to keep it running.
- State Street manages $46 trillion in assets and couldn't catch sanctioned Russians moving money through its systems.
- OFAC just opened a sanctions-licensed pathway to bid for Lukoil International, with the trapdoor still wired.
- FinCEN just told every US bank that "industry standard" is no longer a defence.
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