WASHINGTON—Today, the U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network (FinCEN) led a FinCEN Exchange with global financial institutions to advance Operation Economic Outcast. The event armed financial institutions with the information they need to shut down revenue streams and procurement networks tied to the Iranian regime.
“Treasury continues to sever every economic lifeline Tehran has left,” said Secretary of the Treasury Scott Bessent. “Financial institutions are in lockstep with the U.S. government in support of Operation Economic Outcast, and we will continue to work closely with the private sector in the fight against the murderous Iranian regime.”
Public-private information exchanges are a key part of Operation Economic Outcast. Through collaboration with the private sector, including feedback on actionable information, Treasury will ensure there will be no space for the Iranian regime to rebuild its capacity to inflict terror against America and the world.
Today’s FinCEN Exchange gave the financial sector insight into the nodes, facilitators, and networks that provide Iran and its terrorist proxies with access to U.S. correspondent banking relationships and allow them to launder funds, procure weapons, and bankroll regional terrorist activity. Treasury officials and financial institution representatives engaged in a candid, productive conversation to share best practices and findings to protect the U.S. financial system from abuse and terrorism.
In connection with Operation Economic Outcast, FinCEN is committed to fostering information sharing and strongly encourages all financial institutions to stay informed about the threat posed by Iran, its proxies, and its enablers by reviewing Treasury actions targeting Iranian illicit finance—including FinCEN’s relevant alerts, advisories, and financial trend analyses, as well as Iran-related sanctions administered by the Office of Foreign Assets Control.
Today’s FinCEN Exchange builds upon the Iran Maximum Pressure and Counter Terrorism (IMPACT) public-private partnership event that was convened in April 2025, and continues Treasury’s sustained engagement with financial institutions and law enforcement partners to counter Iran’s illicit financial networks.
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The FinCEN Exchange program is a statutorily authorized voluntary public-private partnership that convenes relevant stakeholders, including law enforcement agencies and financial institutions. The program aims to protect our national security and our citizens from harm by combatting money laundering and its related crimes, including terrorism, through public-private dialogue that encourages, enables, and acknowledges industry focus on high-value and high-impact activities. The program began in 2017 and was codified as part of the Anti-Money Laundering Act of 2020.
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