The Department of the Treasury has set its sights on a shadow banking group’s billions of dollars. The Treasury’s Office of Foreign Assets Control (OFAC) has been hunting over fifty entities linked to shadow banking to fund and exacerbate terrorist actions. Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL) and Islamic Revolutionary Guard Corps (IRGC) are central to the web of hidden banking. The Treasury accuses both entities of using shadow banking to gain access to the international market and financial system to wash billions of dollars. What is shadow banking?Shadow banking is…