The Daily Delta - Canadian AML & Financial Crime News
October 02, 2026
Featured
FinCEN
FinCEN has proposed a rule under Operation Economic Outcast that would prohibit certain fund transfers involving sub-agents of the A7 Network, a Russia-linked shadow banking system Treasury says has been used by Iran to evade sanctions. FinCEN says the network’s sub-agents processed more than US$17 billion globally between January 2025 and June 2026, using third-country companies, falsified trade documents and misleading goods descriptions to disguise illicit payments as ordinary commercial activity. Treasury says the network also facilitated Iranian oil sales, weapons procurement and transactions benefiting the IRGC and Iran-backed groups. FinCEN separately issued an alert on A7 activity, while OFAC sanctioned the network as a significant transnational criminal organization.
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