# The Holding Iranian Leaders Accountable Act of 2023

This bill requires the U.S. Treasury Department to investigate and report on the money and assets controlled by top Iranian government officials and military leaders, then take action against banks that help them move or hide that money. Think of it as a financial transparency and enforcement tool aimed at exposing corruption among Iran's elite.

Here's what actually happens: Within six months of the bill passing, the Treasury must submit a detailed report listing the estimated wealth of Iran's Supreme Leader, President, military commanders, and leaders of groups like Hezbollah and Hamas. The report must describe how these officials acquired their money, what they've done with it, and which banks around the world—both American and foreign—are helping them manage these funds. The Treasury can initially focus on just five of these officials if needed to meet the deadline, then expand the list over time. Every two years after that, the Treasury must update this report.

Once the Treasury identifies banks involved with these officials' money, it has 90 days to act. For American banks, the Treasury can order them to close accounts and stop providing financial services to these individuals. For foreign banks, the Treasury will pressure them to do the same using whatever legal tools it has available. The report can be made public if the Treasury believes it will help deter corruption, hold officials accountable to Iranian citizens, or combat money laundering and terrorism financing. If published, it will be available in English, Farsi, Arabic, and Azeri so Iranians can access it directly.

The bill includes some flexibility built in. The President can exempt certain officials if their money was acquired legally, if they're cooperating with U.S. national security efforts, or if banks agree to stop serving them. The President can also waive requirements for up to a year at a time if he determines it's in the national interest. The entire law expires after five years, or sooner if Iran stops being considered a money laundering concern or if the Iranian government starts cooperating significantly with the United States on counterterrorism.