World
US sanctions 52 individuals, entities for helping Hezbollah evade sanctions
The Treasury Department issued new Hezbollah-related sanctions on Tuesday against 52 individuals and entities in Lebanon, the UAE, South Africa, Angola, Ivory Coast, the Democratic Republic of the Congo, Belgium, the UK, and Hong Kong.
The US accused the suspects of being part of an international money laundering and sanctions evasion network supporting the Iran-backed terrorist group, including a prominent Hezbollah financier.
“The individuals involved in this network used shell companies and fraudulent schemes to disguise Nazem Said Ahmad’s role in financial transactions,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson.
Nelson warned “luxury good market participants” to be “attentive” to these potential tactics and schemes, which allow terrorist financiers, money launderers, and sanctions evaders to launder illicit proceeds by purchasing and consigning luxury goods.
Developing