UK government sanctions Iran-linked network over attack plots and shadow banking
The UK sanctioned 12 Iran-linked individuals and entities for plotting domestic attacks and operating illicit shadow banking networks.Summary
On May 11, 2026, the UK government imposed sanctions, including asset freezes and travel bans, on 12 individuals and entities associated with the Zindashti criminal network. The group is accused of orchestrating hostile attack plots within the UK and managing a shadow banking system to bypass international sanctions on Iran. Key targets include the Zarringhalam family and two exchange houses, Berelian Exchange and GCM Exchange, which allegedly laundered billions of dollars.
This action highlights a strategic shift by Western governments to dismantle informal financial channels, such as hawala networks and exchange houses, that fund the Islamic Revolutionary Guard Corps and other sanctioned activities. By linking financial crimes directly to security threats, the UK aims to choke off the resources used for operational activities on British soil, aligning its efforts with similar US-led initiatives to restrict Iran's access to global funds.
(Source：Crypto Briefing)