Sanctioning a Hizballah Money Exchange Network

General

The United States is designating a financial network, spearheaded by Lebanese money exchanger Hassan Moukalled, that facilitates financial activities for Hizballah. Moukalled has presented himself as an advocate for Lebanon’s economic prosperity but instead has been helping Hizballah and himself to profit from Lebanon’s economic crisis.

In addition to Moukalled, the Department of the Treasury is designating CTEX Exchange, a purported money service business established by Moukalled in coordination with Hizballah to exploit the increased demand for currency exchange services in Lebanon and benefit Hizballah. The United States is taking today’s actions pursuant to counterterrorism sanctions authorities.

Despite Moukalled’s attempts to maintain a facade as a financial expert and economist, he is in fact an opportunistic businessman exploiting Lebanon’s suffering population to financially support the Hizballah terrorist organization, and even help it secure weapons. Today’s action is another warning to those who provide support to terrorist groups that the United States will continue to pursue accountability for these actions.

Source: US Department of State