Government / Regulation
Treasury sanctions eight Canadian money services businesses
The Treasury Department announced sanctions Friday against eight Canadian money services businesses it accused of facilitating transactions involving Iran and sanctioned entities.
Status: source-checked.
The Treasury Department announced sanctions Friday against eight Canadian money services businesses it accused of facilitating transactions involving Iran and sanctioned entities.
The Office of Foreign Assets Control said the designations were imposed under Executive Order 13902. Treasury identified the targets as Million Exchange, 1380079 BC Limited, Top PC Technician Inc, NIA Nations, Farah Exchange, CCC Inc, B Galaxy Inc and Darvish Exchange.
The action blocks covered property in the United States or under U.S. control and generally prohibits transactions involving that property unless authorized or exempt, according to Treasury.
What we know / what we don't
What we know
- The Treasury Department announced sanctions Friday against eight Canadian money services businesses it accused of facilitating transactions involving Iran and sanctioned entities.
What we don't know
- Treasury allegations have not been independently established. Responses from the designated businesses were not reviewed.
The source record