WASHINGTON, D.C. — America’s EB-5 visa-investor program has opened a gateway for Iranian operatives to infiltrate the country, a government memo says.

Citing a report by the Homeland Security Investigations division, U.S. Sen. Charles Grassley said EB-5 is vulnerable to the “export of sensitive technology and economic espionage,” as well as “investment fraud” and money laundering.

In a slap at the U.S. Citizenship and Immigration Services, which administers the multibillion-dollar program, the HSI memo concludes that the EB-5 regional center system “has significant flaws and should be abandoned.”