US sanctions eight Canadian firms for aiding Iran and laundering funds
Briefing by News4U · First published
The US Treasury on Friday sanctioned eight Canadian currency-exchange businesses in Ontario and British Columbia, including Million Exchange, Amin Exchange and Cryptoyal, for providing financial services to Iranian entities and, in three cases, laundering proceeds for alleged drug kingpin Ryan Wedding. The sanctions cut the firms from the US dollar system and freeze any US assets. Treasury Secretary Scott Bessent said Canada cannot be a safe haven for sanctions evasion. Canada’s FINTRAC confirmed cooperation with US authorities. [1] [2]
Sources
- U.S. sanctions Canadian money-exchange businesses allegedly connected to Iranian regime, Ryan Wedding
CBC World · · Full text
- US Treasury sanctions eight Canadian money exchange firms over Iran ties
Al Jazeera · · Full text