The Financial Crimes Enforcement Network today issued an alert to help financial institutions identify and report what the agency says is potential Iranian abuse of religious charity networks.
Iran has a long history of abusing religious-affiliated institutions and charitable organizations to support its causes, according to the alert. The country also seeks to co-opt khums payments — the practice of donating a fifth of one’s surplus annual income to religious institutions to fund social and religious programs — from the global Shi’a community to further its activities.
The alert lists several red flags that may indicate activity tied to Iran’s abuse of religious charity networks. It was issued alongside new sanctions against Cuba-based Banco Internacional de Comercio for allegedly supplying services to Iran. Both are part of Operation Economic Outcast, which seeks to financially isolate the country.
