Advance Banking Solution Trading

ifmat-blackcompanies

UAE-based Advance Banking Solution Trading DMCC (ABS), a front company for ISC, acquired proprietary U.S. goods and technology from over two dozen U.S. companies, both indirectly and through third-party resellers, for onward transfer to CBI

Country:

United Arab Emirates UAE  

Status:Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Risk Level:99%

May harm your business future. Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action.

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Info:
UAE-based Advance Banking Solution Trading DMCC (ABS), a front company for ISC, acquired proprietary U.S. goods and technology from over two dozen U.S. companies, both indirectly and through third-party resellers, for onward transfer to CBI. ABS falsely claimed that it was the ultimate end user of the products, concealing their intent to forward the items to Iran from U.S.-based vendors. ISC chief executive officer Seyed Abotaleb Najafi oversaw and approved the illicit acquisition of items acquired by ISC.

Iran-based Informatics Services Corporation (ISC), a subsidiary of CBI and publicly recognized as the technology arm of CBI, oversees Iran’s electronic banking clearance network, Shetab, and is affiliated with Shaparak, Iran’s electronic card payment network. ISC most recently developed the Central Bank Digital Currency platform for the Central Bank of Iran.

“The Central Bank of Iran has played a critical role in providing financial support to the IRGC-QF and Hizballah, two key actors intent on further destabilizing the Middle East,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “The United States will continue to use all available means to disrupt the Iranian regime’s illicit attempts to procure sensitive U.S. technology and critical inputs.”

Also Known As:
Advance Banking Solution Trading DMCC
ABS
Arabic: آدفانس بانکینغ سولیوشن تریدنغ م.د.م.س
ADVANCE BANKING SOLUTIONS DMCC
ABS CORPORATION

Country:
United Arab Emirates

Address:
804 Jumeirah Bay Tower X3, Dubai, United Arab Emirates

License:
DMCC-402070 (United Arab Emirates)
JLT-66110 (United Arab Emirates)

Economic Register Number (CBLS):
11459098 (United Arab Emirates)
11464855 (United Arab Emirates)

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on February 14, 2024 pursuant to Executive Order 13224, as amended, for being owned, controlled, or directed by, or having acted for or on behalf of, directly or indirectly, Informatics Services Corporation;