Today, the world’s attention has turned to Iran’s defiance of the international community in pursuing its nuclear program and its sponsorship of terrorist organizations. What is less well known are those methods that the Government of Iran is using to facilitate its proliferation and terrorism activities through the world’s financial system, namely, using its state-owned banks and an array of front companies and other deceptive techniques, specifically designed to evade the controls of responsible financial institutions. 

Today, per the topic of our hearing, I would like to outline the implementation of sanctions against the Iranian regime, specifically focusing on the banking sector.