This Financial Trend Analysis (FTA) describes patterns and trends identified in 2024 financial intelligence received by the Financial Crimes Enforcement Network (FinCEN) related to suspected evasion of U.S. sanctions by the Islamic Republic of Iran (Iran). This report is issued pursuant to Section 6206 of the Anti-Money Laundering Act of 2020, which requires FinCEN to periodically publish threat pattern and trend information derived from Bank Secrecy Act (BSA) information. On February 4, 2025, President Trump announced a maximum pressure campaign against Iran with the goals of countering Iran’s nuclear weapons and intercontinental ballistic missile (ICBM) programs; neutralizing Iran’s network and campaign of regional aggression; disrupting, degrading, and denying Iran access to the resources that sustain its destabilizing activities; and countering Iran’s aggressive development of missiles and other asymmetric and conventional weapons capabilities. On June 6, 2025, FinCEN issued an advisory to U.S. financial institutions urging vigilance in detecting the Iranian regime’s illicit activities and attempts to exploit the U.S. financial system (June 2025 FinCEN Advisory). This FTA, which is based on financial activity that occurred before the announcement of the maximum pressure campaign, further supplements the June 2025 FinCEN Advisory by providing greater insight into how Iran evades sanctions and generates illicit revenue to support its nuclear weapons, ballistic missile, and unmanned aerial vehicle (UAV) programs. The information in this report is relevant to the public, including a wide range of consumers, and it highlights the value of BSA data reported by regulated financial institutions.

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