FinCEN Flags Illicit Procurement Networks Supporting Iran's Commercial Aviation Industry

Alongside OFAC, FinCEN issued an alert under Operation Economic Outcast directing financial institutions to identify and report procurement networks supporting Iranian commercial airlines (Mahan Air, Iran Air) that ferry IRGC-QF personnel, weapons, and hard currency for proxies including Lebanese Hizballah and the Houthis, and that facilitate UAV/ballistic missile-related transport. The alert details Iran's use of front companies across Europe, the Middle East, Africa, and Asia to procure U.S. and Western-origin aircraft and parts and sets out seven red-flag indicators. Filers are asked to reference key term "FIN-2026-IRANAIR" in SAR field 2 and narratives, and are encouraged to also submit OFAC disclosures where sanctions violations are identified.