At least eight commercial banks in Iran have reportedly stopped serving the public, according to the opposition-linked news agency Iran International. Independent reports from inside Iran also point to major problems withdrawing cash and using credit card terminals. The cause is still unclear, and the main theories are a cyberattack or financial collapse.
Iran International said eight commercial banks, some of them large, were completely shut down. It also cited Iranian state-aligned media reporting disconnections and slowdowns in parts of the banking system. The reports come on top of a Reuters story on Tuesday about a cyberattack on credit card services at three banks.
Iran expert Dr. Tamar Eilam Gindin of the Ezri Center at the University of Haifa said there have already been disruptions for several days at Iran’s four largest banks. She said officials have blamed infrastructure problems, but the source has remained unclear and changing the machines did not help. According to her, the common explanation being given to the public is a cyberattack, while some believe that label is being used to hide state bankruptcy.
Exiled Iranian journalist Amir Farshad Ebrahimi said the country’s banking network has been completely disrupted. He said ATMs are not working and card terminals are not connecting, making it impossible over the past three days to buy or sell normally. He said clinics, pharmacies, grocery stores and supermarkets have been affected, gas stations have shut their pumps, and the government’s refusal to distribute cash has deepened the pressure. A small business owner urged customers to pay with cash because some banks’ systems were blocked. Another opposition-linked outlet, DEJ, said nearly two weeks of banking disruptions have now expanded as cyberattacks hit technical infrastructure, leaving online banking apps and card readers unavailable across Iran and freezing daily commerce.
