US offers up to $15 million for information on IRGC financial mechanisms (Image released by US State Department)
The state department said the IRGC, founded in 1979 following Iran’s Islamic Revolution, is part of Iran’s military. The Rewards for Justice programme is seeking information on how the IRGC raises, moves and transfers money, including through illicit financial schemes, front companies, financial institutions and other facilitators.
It said the IRGC-QF plays a central role in directing Iran’s operations outside the country through groups including Hamas, Hezbollah and Iran-backed militia groups in Iraq. The treasury department alleged that BitBank had been used to transfer payments to the Iranian regime and said Zanjani had used the platform to facilitate the transfer of hundreds of millions of dollars in Bitcoin to the IRGC. These are US government characterisations. The treasury action was part of what the administration calls Operation Economic Outcast, a campaign aimed at disrupting Iran’s revenue sources and sanctions-evasion networks. The Rewards for Justice programme, administered by the state department’s bureau of diplomatic security, offers financial rewards for information that can advance US national-security objectives, including disrupting the financial mechanisms of foreign terrorist organisations.