Snapshot:
On February 26, 2026, the U.S. Department of the Treasury, through FinCEN, issued an NPRM that would sever MBaer Merchant Bank AG’s access to the U.S. financial system due to its alleged financial support to illicit actors linked to Russia and Iran. If finalized, U.S. financial institutions would be prohibited from opening or maintaining correspondent accounts for the bank.
Why it Matters:
This is one of the strongest actions the U.S. can take against a foreign bank, signaling heightened scrutiny of international institutions that pose money‑laundering or national security risks. U.S. financial institutions should anticipate increased expectations around sanctions screening, correspondent banking due diligence, and escalation protocols. The proposal underscores Treasury’s intent to aggressively safeguard the integrity of the U.S. financial system.