Financial Crime World

US Slaps Sanctions on Five Individuals for Helping Hizballah Evade Financial Restrictions

Washington - The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated five individuals for their involvement in helping Hizballah evade financial sanctions and facilitate illicit activities.

The targeted individuals, including two co-founders of CTEX Exchange and two sons of Hassan Moukalled, a key figure in Hizballah’s financial networks, were accused of assisting the terrorist organization’s efforts to circumvent international financial restrictions.

Designations Under Executive Order 13224

The designations were made under Executive Order 13224, which targets terrorists and those who provide support to them. The move is part of a broader effort by the US government to disrupt Hizballah’s ability to raise funds and resources for its activities.

Key Individuals Involved

  • Hassan Moukalled: A key figure in Hizballah’s financial networks, previously designated by OFAC for his role in supporting the terrorist organization.
  • Firas Hasan Moukalled: Works with his father at U.S.-designated LCIS.
  • Rayyan Moukalled: Son of Hassan Moukalled, involved in his father’s illegal activities.
  • Mushantaf: A businessman who has jointly owned and operated several companies with Hizballah operatives.
  • Teleport Company SAL: A Lebanese-based company that is 50 percent owned by Mushantaf and two of Hassan Moukalled’s sons.

Consequences of Designations

As a result of the designations, all property and interests in property of these individuals that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Non-U.S. financial institutions and other entities that engage in transactions with designated individuals and entities may also expose themselves to sanctions risk.

International Cooperation

The designations were made in coordination with international partners and reflect the US government’s commitment to disrupting Hizballah’s ability to raise funds and resources for its activities.