Tech Firms Face US Sanctions For Assisting Iran’s Central Bank
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The US has enforced sanctions on many businesses and individuals for illegally bringing in technology to the Central Bank of Iran (CBI).
The CBI has been identified by the United States for the part it plays in delivering financial backing to the Islamic Revolutionary Guard Corps-Quds Force and Hizballah.
CBI Played A Significant Role In Backing Hizballah And The IRGC-QF Financially
The US Treasury Department directs its attention on Informatics Services Corporation (ISC), the Acknowledged technology division of CBI. It manages Iran’s digital banking clearance network and recently launched the nation’s CBDC.
The sanctions affected one company in Turkey, three individuals, and two businesses in the United Arab Emirates.
The US identifies United Arab Emirates-based Advance Banking Solution Trading (ABS) as a front firm for ISC. ABS is alleged to have purchased exclusive US technology and goods from more than 24 businesses indirectly and via third-party vendors, for onward transmission to CBI.
From all the technology CBI purchased from American companies, some were categorized as information security products subject to anti-terrorism controls and national security by the US.
Brian Nelson, Secretary of the Treasury for Terrorism and Financial Intelligence, stated that the CBI has played an important role in offering financial assistance to Hizballah and the IRGC-QF, two fundamental organizations aiming to increase destabilization in the Middle East.
CBI Faces Several Accusations For Poor Conviction Rates
The Central Bureau of Investigation (CBI), under the jurisdiction of the Ministry of Personnel, is an India-based domestic crime investigation network. It is primarily designed to investigate governmental corruption and bribery. In 1965, it expanded its jurisdiction to investigate breaches of multi-agency, multi-state organized crime, central laws enforceable by the India Government, and international cases.
The CBI has witnessed several criticisms and controversies due to numerous reports of a poor conviction rate, excessive political influence, and irregular practices. It is officially India’s selected single point of contact for liaison along with Interpol, which is excluded from the supplies of the Right to Information.
The CBI functions as India’s leading investigative agency having a resource to tackle complicated cases, it also joins the quest to investigate crimes like terrorism, kidnapping, and murder. The Supreme Court along with several India’s High Courts also began conveying such investigations to the CBI due to aggrieved parties’ petitions.
