The Treasury Department announced that the Financial Crimes Enforcement Network is investigating a Greek bank for alleged ties to Iran.
The Office of Foreign Assets Control yesterday sanctioned Panama- and Greece-based law firm Karnakis and Karnakis for allegedly supporting Iranian shipping. As part of that announcement, Treasury said that for the first time, FinCEN is using its administrative subpoena powers under the Bank Secrecy Act to investigate an unnamed Greek bank for its “potential ties to Iran and its proxies.” FinCEN has also issued multiple requests for information concerning banks’ relationships with Iranian financial institutions, although it did not name the banks.
The announcements were part of Operation Economic Outcast, which seeks to cut off Iran from the world’s financial systems.









