U.S. Prosecution of ‘Dual Use’ Electronics Dealers Ups Pressure on Banks, Say Analysts

By Brian Monroe

A government indictment released Wednesday charging an international network with sending electronics that can be used for weapons to Iran puts more pressure on banks to ensure their customers aren't aiding terrorists, say sanctions analysts. The grand jury indictment, filed in the U.S. District Court in Miami, charges eight companies and eight individuals with breaching the U.S. embargo restricting imports to Iran, a country that has been subject to U.S. sanctions for over 30 years. The defendants sent so called "dual use" electronics, which can be components of bombs targeting U.S. troops in Iraq, federal prosecutors said. The prosecution is...