OFAC SANCTIONS INTERNATIONAL FINANCIAL NETWORKS SUPPORTING TERRORISM

On 17 September, OFAC announced that it was designating members of a network of Lebanon- and Kuwait-based financial conduits that fund Hizballah, as well as designating members of an international network of financial facilitators and front companies that operate in support of Hizballah and Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).  Together, it says, these networks have laundered tens of millions of dollars through regional financial systems and conducted currency exchange operations and trades in gold and electronics for the benefit of both Hizballah and the IRGC-QF.  OFAC says that Hizballah, with the support of the IRGC-QF, uses the revenues generated by these networks to fund terrorist activities, as well as to perpetuate instability in Lebanon and throughout the region.  13 individuals and 8 entities have been listed.  In addition, the existing entry for Lebanese nation Ali Qasir has been amended.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210917

https://home.treasury.gov/news/press-releases/jy0362

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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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