Federal police have charged a man in Sydney's west for allegedly sending $650,000 to sanctioned Iranian banks via an international money transfer service.

The Australian Federal Police (AFP) arrested a 34-year-old man, who is the director of a registered remittance company in Auburn.

Remittance companies allow the international transfer of money from one customer to another.

The man allegedly processed 543 international money transfers, which totalled $649,308, to sanctioned Iranian banks over the course of a year.

In late July, investigators raided a home in Wentworthville and the Auburn business, seizing a number of electronic devices that were later linked to evidence of funds being transferred to the banks.

As a result of the investigation, the remittance business that allegedly s

See Full Page