OFAC sanctions Lebanese money exchanger for alleged Hezbollah ties
The US Department of the Treasury’s Office of Foreign Assets Control (‘OFAC’) has announced sanctions against several individuals and associated entities for alleged financial ties to blacklisted group Hizballah.
‘At the center of this network,’ said OFAC, ‘is Lebanese money exchanger and so-called financial expert Hassan Moukalled, who plays a key role in enabling Hizballah to continue to exploit and exacerbate Lebanon’s economic crisis.’
OFAC said it was also designating CTEX Exchange, a money service business owned by Moukalled, and his sons, Rayyan Moukalled and Rani Moukalled, ‘who facilitate Hassan Moukalled and his company’s financial activities in support of Hizballah.’
Treasury Under Secretary for Terrorism Brian E. Nelson said: ‘Today, the Treasury Department is taking action against a corrupt money exchanger, whose financial engineering actively supports and enables Hizballah and its interests at the expense of the Lebanese people and economy.’
