On 14th July, the Director of FinCEN in the US congratulated the Argentine FIU (UIF-AR) for taking decisive action to freeze assets belonging to a transnational criminal organization linked to Hezbollah and its global terror network.  The organisation is Clan Barakat, is a criminal organization led by Assad Ahmad Barakat, who is tied to Hezbollah leadership, and has long been known to operate in the tri-border area between Argentina, Paraguay, and Brazil.  He is also designated by OFAC.  The FinCEN Director says that it is infamous for its suspected involvement in smuggling, counterfeiting, extortion, drug trafficking, arms trafficking, money laundering, and terrorist financing. {Spanish]

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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