All news on the topic: Shadow Banking

Iran’s shadow banking network runs far deeper and wider than the network targeted by US sanctions last month, an Iran International investigation found, showing that Tehran used more than a dozen banks in China and the United Arab Emirates to access the global financial system.

According to media reports, a network of payment systems such as Payeer and Piastrix, reportedly used in connection with semi-underground online casinos across the former USSR, has been linked to former employees of Alfa-Bank and IBOX Bank.

The latest sanctions package also includes measures targeting financial networks accused of moving Iranian oil revenues through front companies abroad.