According to a Wall Street Journal investigation, Iranian funds continue to move through the US financial system in significant volumes, despite US efforts to cut Iran off from global banking. The report says Iranian money reaches American banks indirectly through foreign financial institutions that maintain correspondent-banking relationships with US lenders. Front companies and currency exchanges are used to disguise the Iranian connection before dollar transactions are settled by US banks.

The US Treasury identified roughly $9 billion in Iranian funds that passed through American banks in 2024, the investigation said. The disclosure comes as the Trump administration escalates its sanctions campaign against Iran, aiming to squeeze the country out of the international financial system. The findings highlight what the report describes as a weakness in the enforcement of Washington's sanctions.