US AND 6 MIDDLE EAST STATES JOINTLY TARGET 4 ENTITIES AND 2 INDIVIDUALS FOR SANCTIONS

On 15 July, the US Treasury announced that the 7 member nations of the Terrorist Financing Targeting Center (TFTC) – Saudi Arabia, Bahrain, Kuwait, Oman, Qatar, and UAE – have jointly designated –

  • 6 targets affiliated with the ISIS – 3 entities and 1 individual located in Turkey and Syria have provided a critical financial and logistical lifeline to ISIS, its branches, and its global facilitation networks; and
  • an Afghanistan-based organisation, Nejaat Social Welfare Organisation, and its director, Sayed Habib Ahmad Khan, abused the goodwill of the international community under the auspices of charitable giving to facilitate the transfer of funds for and to support the activities of ISIS’s branch in Afghanistan, ISIS-Khorasan (ISIS-K).

Since its inception in 2017, the TFTC has issued 5 rounds of joint designations against over 60 terrorist individuals and entities with designations targeting a wide range of terrorist organisations, including ISIS and its affiliates, al-Qa’ida, the IRGC, Lebanese Hizballah, and the Taliban. It is said that this action targets 3 significant money services businesses: al Haram Exchange, Tawasul Company, and al-Khalidi Exchange. These are said to have have played a vital role in transferring funds to support Syria-based ISIS fighters and have provided hundreds of thousands of dollars of liquidity to ISIS leadership.

https://home.treasury.gov/news/press-releases/sm1057

 

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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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