U.S. sanctions key Hizballah money exchanger

The Department of the Treasury on Tuesday announced that OFAC has designated three individuals and associated entities for facilitating financial activities for Hizballah. At the center of this network is Lebanese money exchanger and so-called financial expert Hassan Moukalled, who plays a key role in enabling Hizballah to continue to exploit and exacerbate Lebanon’s economic crisis. OFAC also designated CTEX Exchange, a money service business owned by Hassan Moukalled, in addition to Hassan Moukalled’s sons, Rayyan Moukalled and Rani Moukalled, who facilitate Hassan Moukalled and his company’s financial activities in support of Hizballah.

Yesterday's action also targets Lebanese Company for Information and Studies and Lebanese Company for Publishing, Media, and Research and Studies, two additional companies that are owned or controlled by Hassan Moukalled.

For identification information on the designated individuals and entities, see the related BankersOnline’s OFAC Update.