Financial Crime World

OFAC Sanctions List in Qatar Includes Ali Reda Hassan Al Banai, Linked to Hizbollah

Washington D.C., June 9, 2020

The Office of Foreign Assets Control (OFAC) has added a new individual to its sanctions list in Qatar, citing his ties to the militant group Hizbollah.

Background

Ali Reda Hassan Al Banai, a Qatari national, was sanctioned under the SDGT program for his alleged involvement with the Lebanese-based organization. The 45-year-old businessman is listed on the OFAC’s Specially Designated Nationals (SDN) list, which imposes economic and financial sanctions on individuals deemed to be a threat to international peace and security.

Sanctions Details

  • Name: Ali Reda Hassan Al Banai
  • Aliases: Ali Ridha Hassan Al Banai, Ali Reda Hassan Al Bani, ‘Ali Ridha Hassan Al Banai
  • National ID No.: 27563400027
  • Date of Birth: March 28, 1975
  • Place of Birth: Doha, Qatar

The sanctions come into effect on June 9, 2020, and all assets belonging to Al Banai in the United States are frozen. Non-US persons or entities are also prohibited from engaging in transactions with him.

Breakdown of Sanctions

• Passport Number: 01226090 • National ID No.: 27563400027 • Date of Birth: March 28, 1975 • Place of Birth: Doha, Qatar

US Treasury Department’s OFAC

The US Treasury Department’s OFAC is responsible for enforcing economic sanctions against foreign individuals and entities deemed to be threats to national security or human rights. The latest move targets Al Banai’s alleged ties to Hizbollah, which the US has designated as a terrorist organization. The sanctions are aimed at disrupting the group’s financial networks and isolating its leaders.

Conclusion

The addition of Ali Reda Hassan Al Banai to OFAC’s sanctions list highlights the importance of enforcing economic sanctions against individuals and entities linked to terrorist organizations. The US Treasury Department’s OFAC continues to play a crucial role in disrupting the financial networks of groups like Hizbollah, ensuring the safety and security of nations around the world.