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Banks and other private firms “must do more to ensure their compliance programs are airtight” against attempts by Iran to access the global financial system, the head of the U.S. Treasury Department’s sanctions branch said Tuesday. In a prepared statement, Sigal Mandelker, U.S. under secretary for terrorism and financial intelligence, accused the Islamic Republic of forging documents, operating behind shell companies and government entities, and using other “deceitful tactics” to finance terrorism and develop ballistic missiles. “You may think your clients and counterparties are legitimate companies,” Mandelker said at an event hosted in Washington, D.C. by the Foundation for Defense...