A major cyberattack disrupted four of Iran’s largest banks on June 13 and 14, reportedly striking institutions deeply connected to the regime, the Islamic Revolutionary Guard Corps and Iran’s international sanctions-evasion network.
The targets were Bank Melli, Bank Tejarat, Bank Saderat and the Export Development Bank of Iran. The four state-controlled banks reportedly share parts of their communications and digital infrastructure, allowing the attackers to cause widespread disruption across several institutions simultaneously.
Online banking, payment terminals and cash machines were severely affected. In some areas, reports claimed that approximately 90% of Iranian bank cards were temporarily unusable, disrupting daily commerce and placing further pressure on Iran’s already struggling economy.
The banks are more than civilian financial institutions. Western governments have long accused them of helping finance the IRGC, Iran’s nuclear activities and terrorist organizations, including Hezbollah and Hamas. They have also played an important role in helping Tehran bypass international sanctions and conduct foreign trade.