The U.S. Treasury Department said Wednesday that it had shared information with financial institutions around the world as part of efforts to disrupt financial and procurement networks connected to Iran.
The information was exchanged through the Treasury’s Financial Crimes Enforcement Network (FinCEN) under “Operation Economic Outcast,” an initiative aimed at targeting Iran’s access to the global financial system.
The information-sharing meeting was held under FinCEN’s “Exchange” program, which brings together financial institutions, law enforcement agencies and other relevant stakeholders on a voluntary basis.
Focus on Iran-Linked Networks
During the meeting, participants discussed various networks and intermediaries allegedly linked to Iran.
The Treasury Department said these networks provide Iran and groups allied with Tehran with access to U.S.-linked banking channels. Washington alleges that the networks are used for money laundering, weapons procurement and financing regional terrorist activities.
U.S. Treasury Secretary Scott Bessent said Washington would continue working with financial institutions and the private sector to shut down economic avenues available to Tehran.
Operation Economic Outcast
The United States launched Operation Economic Outcast on August 24. According to Bessent, the operation seeks to isolate Iran from global economic and financial networks.
As part of the campaign, the Treasury Department imposed its latest sanctions on Monday, targeting Russia’s VTB Bank with additional restrictions over allegations that it helped Iran evade U.S. sanctions.
The latest information-sharing effort signals Washington’s continued reliance on cooperation with private financial institutions to identify and disrupt financial channels it says are supporting Iran’s economic and procurement activities.
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