What happens when a bank’s leadership systematically overrides its own compliance department? We deep-dive into the MBaer Merchant Bank scandal. We break down the specific failures that led to a $6.4 billion liquidation, the role of the IRGC-QF and PDVSA in their portfolio, and the "Economic Plausibility" tests that failed. Essential listening for AML and Trade Compliance officers navigating high-risk jurisdictional 2026 mandates.