US Financial Watchdogs Task Banks with Tracking Iranian Illicit Finance Networks

US financial watchdogs told banks to find and report Iranian illicit finance networks that use shell companies and crypto to hide money from oil sales.

#IranSanctions, #MoneyLaundering, #USBanks, #FinancialCrime, #TreasuryDept

https://newsletter.tf/us-banks-track-iranian-illicit-finance-networks/

US banks are now required to look for suspicious transactions linked to Iran's efforts to avoid economic sanctions. This is a new step to stop Iran from using money for harmful activities.

#IranSanctions, #MoneyLaundering, #USBanks, #FinancialCrime, #TreasuryDept
https://newsletter.tf/us-banks-track-iranian-illicit-finance-networks/

US Treasury says it was hacked by China in 'major incident'

A Chinese state-sponsored hacker has broken into the US Treasury Department's systems, accessing employee workstations and some unclassified documents.

The Treasury Department said the China-based actor was able to override security via a key used by a third-party service provider called BeyondTrust

#BeyondTrust #china #chinese #TreasuryDept #security #cybersecurity #hackers #hacking #hacked

https://www.bbc.com/news/articles/c3weye2j0e7o

WaPo: Closing asset loophole could add billions to tax collections, #IRS says.

The #Biden administration plans to stop businesses and wealthy individuals from manipulating the value of assets in arcane ways such as using the same assets over and over again to lower their taxes.

#TreasuryDept #taxes #cheat #BasisShifting

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https://wapo.st/3RuU9mQ