The US sanctioned Iran after the Iranian Revolution infurther expanding economic sanctions when Iran refused to give up its uranium enrichment program for nuclear weapons. Can I send money to someone in a country with sanctions? But add to this the fact that people in the US are prohibited from dealing with some specific Iranian banks due to their links with financing terrorism and it quickly becomes apparent that sending funds to Iran is very difficult.

Even if you can find a money transfer willing to help you send money to Iran you will then need to be very careful about the purpose of the transfer. There are several complex rules and regulations surrounding money transfers to Iran and there have been some highly publicised cases of people unwittingly falling foul of the law.

Obtaining advice from the Office of Foreign Assets Control before sending a transfer is recommended. There are ways that people have chosen to get around these economic sanctions. But we stress that doing so is illegal and exposes you to severe legal and financial penalties. What is money laundering?

Money laundering is any activity that illegally obtains money and attempts to conceal the source, destination or identity of those funds. In the US, money laundering is illegal under federal and state laws. The specific laws about what constitutes money laundering and its prosecution may differ. One option for sending money to Iran commonly touted on online forums is to first send your money to a friend or relative in the UK, from where it can then be sent on to your beneficiary in Iran transfers between the UK and Iran are allowed but restricted.

But this option is definitely not recommended as it raises the possibility of money laundering, and depending on where you live it may even be illegal. If you hold a bank account in another country as a resident of that nation, research the rules in place for sending money to a sanctioned nation from that account. This electronic currency is accepted for use in Iran and can be converted into Iranian rial.

However, the legal implications of sending bitcoin to Iran are unclear. To avoid any trouble with the authorities, consider speaking to a lawyer partha banerjee forex the US Treasury before initiating a bitcoin transfer vystar money makeover jacksonville Iran.

As of this writing, countries sanctioned by the US are Cuba, North Korea, Syria, Burma, the Ivory Coast and Iran. Economic sanctions are commercial and tsx rolling stock option plan penalties that can include trade barriers and restrictions on spending money in another country.

Money laundering is the act of concealing the source, destination or identity of illegally obtained funds. Money laundering fines investment brokers new zealand be steep: Some money transfer websites offer the option to send money to sanctioned countries. However, the US considers transferring funds to sanctioned countries online or through a third party illegal.

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Do you need a license to bring money from Iran? | Middle East and North Africa Legal Review (MENA Lawyer)

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Still, the US has the discretion to grant you special permission to send money to family members in countries like Iran.

You must be able to prove that your funds are not for commercial purposes, and how much you send could be limited. What countries are currently sanctioned by the US? Was this content helpful to you? Ask a Question Click here to cancel reply. You are about to post a question on finder. US International Money Transfers Offers Learn about our information service. HiFX International Money Transfers Transfer money into 20 currencies and schedule regular payments.

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