OFAC sanctions 2 Iranian facilitators of ‘malicious cyber activity’

US Treasury Building2OFAC has designated 2 Iranian nationals, Ali Khorashadizadeh and Mohammad Ghorbaniyan, “who helped exchange digital currency (bitcoin) ransom payments into Iranian rial on behalf of Iranian malicious cyber actors involved with the SamSam ransomware scheme”. For the first time, OFAC has also publicly identified 2 digital currency addresses associated with these 2 individuals, in which over 7000 bitcoin transactions (worth millions of US dollars) were processed through. These cyber-related designations were made pursuant to Executive Order 13694, which imposes US asset freezes and travel bans, and could subject others to secondary sanctions if they engage in transactions with the 2 listed individuals. See OFAC Notice, US Treasury Press Release, and Two New Digital Currency-Related FAQs.

This entry was posted in Cybersanctions, USA by Maya Lester QC. Bookmark the permalink.

About Maya Lester QC

Maya Lester QC has a wide ranging practice in public law, European law, competition law, international law, human rights & civil liberties. She has a particular expertise in sanctions. As the most recent (2016) Chambers & Partners directory put it, she "owns the world of sanctions". She spent 2011-12 in New York at Columbia Law School lecturing and writing on sanctions. She represents and advises hundreds of companies and individuals before the European and English courts and has acted in most of the leading cases, including Kadi, Tay Za, Central Bank of Iran, NITC and IRISL.

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