The United States declared Iran to be a "jurisdiction of primary money laundering concern" and announced new due diligence requirements for banks and for humanitarian trade. The new policy requires U.S. banks to scrutinize foreign business relationships and identity any dealings with Iran. The United States also created a new channel for humanitarian trade with Iran that requires detailed transaction records and allows asset seizure in the case of sanctions violations. The money laundering designation is based on accusations that the Iranian government is financing U.S.-designated terrorist groups.