Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.


Status message

Start your free, no obligation 5-day trial to continue exploring with full access.

OFAC takes action against ‘vast network’ of ‘Specially Designated Global Terrorists’

Jaclyn Jaeger | October 17, 2018

The U.S. Department of Treasury’s Office of Foreign Assets Control on Oct. 16 took action against a vast network of Iranian entities for providing financial support to the Basij Resistance Force, a paramilitary force subordinate to Iran’s Islamic Revolutionary Guard Corps (IRGC) that deploys child soldiers. (Photo by

In a press release, OFAC said that the IRGC’s Basij militia recruits, trains, and deploys children to fight in IRGC-fueled conflicts across the region. “This Iran-based network is known as Bonyad Taavon Basij, which is translated as Basij Cooperative Foundation and is comprised of at least 20 companies and financial institutions,” OFAC said.

The Bonyad Taavon Basij employs shell companies and other measures to mask Basij ownership and control over a variety of multibillion-dollar business interests in Iran’s automotive, mining, metals, and banking industries, many of...

Read this single article for $49, or click the subscribe button below to review subscription options.

Enjoy unlimited access to thousands of articles, browse five years of digital magazines, qualify for reduced admission to events, and more.