OFAC targets Hizballah financial network

The Office of Foreign Assets Control of the US Department of the Treasury has designated seven individuals pursuant to Executive Order 13224, as amended, for their actions on behalf of Hizballah, which was designated by the US Department of State as a Global Terrorist in October 2001, or Al-Qard al-Hassan, a financial firm that handles Hizballah’s financial activities, designated by OFAC in 2007.

One of the designated individuals, Ibrahim Ali Daher, serves as head of Hizballah’s central finance unit.  The others are alleged to have used their personal bank accounts in Lebanon to evade sanctions targeting Al-Qard.

Following these designations, US property held by the designated individuals, and entities owned by them, are blocked, and US persons are generally prohibited from engaging in transactions involving such property or entities.  Those who engage in such prohibited transactions may be subject to secondary sanctions pursuant to Executive Order 13224. 

US Dept of the Treasury press release 

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