US TREASURY SANCTIONS LEBANESE MAN AS ALLEGED MONEY LAUNDERER WITH LINKS TO HIZBALLAH

On 11th April, OFAC announced that it had designated Lebanese national Kassem Chams and the Chams Money Laundering Organization as Specially Designated Narcotics Traffickers (SDNT).   OFAC also designated the Chams Exchange, a money service business located in Chtaura, Lebanon.  OFAC also identified Kassem Chams and the Chams Money Laundering Organization as an affiliated network of Hizballah.  OFAC says that the Chams Exchange launders drug proceeds throughout the world on behalf of narcotics trafficking organisations and facilitates money movements for Hizballah.   Chams moves money to and from Australia, Colombia, Italy, Lebanon, the Netherlands, Spain, Venezuela, France, Brazil, and the US as part of his narcotics money laundering activities.

https://home.treasury.gov/news/press-releases/sm650

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20190411.aspx

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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