Sunday, September 29, 2019

Hezbollah Global Network Weakens

President Mauricio Macri of Argentina (left) and President Mario Abdo Benitez of Paraguay (right).

On 16 July 2019 Argentina became the first country in Latin America to officially designate Hezbollah a terrorist organization. On August 9, Paraguay also officially recognized Hezbollah as a terror organization.

The Financial Intelligence Unit of Argentina froze the assets of 14 individuals belonging to the Barakat Clan, a Lebanese crime family with ties to Hezbollah. One of the conduits for these Hezbollah money launderers was a casino in the city of IguazĂș on the Argentine side of the Tri-Border Area (TBA).

The U.S. Treasury Department, through its Office of Terrorism and Financial Intelligence, has sanctioned more than 50 Hezbollah-related persons or entities since 2017 as part of a larger effort at dismantling Hezbollah's global financial network.

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