Monday, January 25, 2021

US slaps sanctions on Lebanese ‘money laundering’ group

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US officials on Thursday announced it has sanctioned a Lebanese network accused of laundering millions of dollars for “drug kingpins” and helping finance Hezbollah, the Iran-backed Shiite movement that Washington labels a terrorist organization.

The US Treasury Department said it has added Lebanese national Kassem Chams to its blacklist, along with two related entities: the “Chams Money Laundering Organization” and Chams Exchange, a money service business in Lebanon.

“Kassem Chams and his international money laundering network move tens of millions of dollars a month in illicit narcotics proceeds on behalf of drug kingpins and facilitate money movements for Hezbollah,” Treasury said in a statement.

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