Bank of America Corporation

Blocked payments linked to the World Intellectual Property Organization due to a connection to the DPRK. Its financial domain was previously spoofed by the DPRK cyberthreat group BlueNoroff.

Over the last three presidential administrations, the United States government has granted Bank of America 19 special licenses to do business in Iran. (New York Times, "Companies with Permission to Bypass Sanctions," 12/24/10) (http://www.nytimes.com/interactive/2010/12/24/world/24-sanctions-list.html)

A proposed class action lawsuit "alleges Bank of America has discriminated against consumers of Iranian and Middle Eastern descent by arbitrarily restricting and closing their accounts." (10/21/21) (https://www.classaction.org/news/class-action-alleges-bank-of-america-discriminates-against-iranian-customers-by-restricting-closing-accounts#:~:text=Nia%20v.,Bank%20of%20America%2C%20N.A.&text=A%20proposed%20class%20action%20lawsuit,restricting%20and%20closing%20their%20accounts.)

"OFAC redacted so much of this license file that it is impossible to tell what exactly it authorized, though what is clear is that it was related to another license, granted to BNP Paribas, involving the acquisition of equipment that was of Iranian origin. Bank of America, which was financing the deal, contended that the sale should be licensed because the goods had already been exported to another country." (New York Times, "Licenses Granted to U.S. Companies Run the Gamut," 12/24/10) (http://www.nytimes.com/interactive/2010/12/24/world/24-sanctions.html)

Bank of America's 10-K filed with the SEC for fiscal year 2021 states: "Pursuant to a specific license from the U.S. Treasury Department’s Office of Foreign Assets Control issued on May 28, 2021, during the fourth quarter of 2021, Bank of America, National Association (BANA), a U.S. subsidiary of Bank of America Corporation, processed one authorized wire deposit totaling $327,257 on behalf of a U.S. client into its account at BANA. The wire deposit settled invoices owed to the U.S. client and consisted of unblocked funds belonging to Jammal Trust Bank, which at the time of the deposit was designated pursuant to Executive Order 13224 [because of its links to Hezbollah]." (https://sec.report/Document/0000070858-22-000062/bac-20211231.htm) (https://home.treasury.gov/news/press-releases/sm760)