US sanctions against Lebanese money laundering network

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April 12 2019

The United States on Thursday announced targeted sanctions against a Lebanese network accused of laundering money from “drug lords” and contributing to the financing of the Iranian-backed Hezbollah-based terrorist group, considered a “terrorist” organization By Washington.

The US Treasury has added to its blacklists Kassem Chams, a Lebanese, as well as two entities: the “money laundering organization” of the latter, and Chams Exchange, a financial services company headquartered in Chtaura, in Liban.