US sanctions eight Canadian money-exchange firms over alleged Iran links

Summary

The US government has sanctioned Canadian money-exchange and money-transfer businesses, accusing them of helping Iran-linked individuals move money and evade financial restrictions. Reports say the action targets eight Canadian entities, several of them currency-exchange businesses. The US Treasury says the firms helped sanctioned Iranian entities and, in several cases, handled funds linked to the alleged head of a drug trafficking ring, Ryan Wedding. The sanctions were announced on November 6, 2026. The alleged links are claims by US authorities and have not been tested in court.

Timeline

1. Hindustan Times

   6 Nov 2026, 23:07 UTCSource ↗

   Hindustan Times reports the US has imposed sanctions on eight Canadian entities accused of helping Iran-linked individuals move money and evade financial restrictions.

2. CBC

   6 Nov 2026, 23:51 UTCSource ↗

   CBC reports the US government announced sanctions against several Canadian currency-exchange businesses accused of helping the Iranian regime and, in several cases, also helping the alleged head of a drug trafficking ring, Ryan Wedding.

3. Al Jazeera

   7 Nov 2026, 04:50 UTCSource ↗

   Al Jazeera reports the US Treasury claims eight Canadian money-exchange firms helped sanctioned Iranian entities and handled funds linked to an alleged drug trafficking boss.