Our adversaries are even using the US banking system. Here’s how they get away with it

A wire transfer originates at a bank in the United Arab Emirates, routes through a correspondent bank in Europe and lands at an American financial institution as what appears to be a routine commercial payment. The compliance team at the receiving bank sees a company with clean corporate filings, a beneficial owner whose documents check out, and a payment from a jurisdiction that carries no sanctions risk. Nothing triggers a flag. On the other end of that transaction is the Iranian government...