TEHRAN: Iranian authorities have arrested 12 people for syphoning off more than $4.5 billion (3.6 billion euros) from one of the country’s main banks over several years, media reported Thursday.

The reports come amid government vows to clamp down on corruption in a bid to revive an economy devastated by decades of international sanctions.

President Hassan Rouhani warned Monday that corruption poses a threat to the Islamic republic, pinning the blame on monopolies.

The suspects embezzled from the Kerman branch of Tejarat Bank from 2009 until their arrest in 2013, Shargh newspaper quoted local prosecutor Yadollah Movahed as saying.

Media said most of the 130 billion rials embezzled had been retrieved and returned to the bank in Kerman, in southern Iran.

Tejarat was quoted as saying shareholders and clients were not undermined in any way.

Those arrested included two officials of the Kerman branch, considered to be the prime suspects, as well as other employees and some clients, media said.

Four people were released on bail, according to Movahed.

Iran is considered one of the world’s most corrupt places. It was ranked 136th out of 175 countries on Transparency International’s corruption index for 2014.

The main offenses include the payment of bribes to facilitate trade in a country where state institutions, such as the military, control businesses ranging from telecoms to oil sales.