Treasury Sanctions Key Hizballah Money Laundering Network
1/28/2016 WASHINGTON – The U.S. Department of the Treasury today targeted Hizballah's financial support network by designating Hizballah-affiliated money launderers Mohamad Noureddine and Hamdi Zaher El Dine, as well as Trade Point International S.A.R.L, a company owned or controlled by Noureddine. Noureddine and El Dine were designated today under Executive Order (E.O.) 13224 for providing financial services to or in support of Hizballah, which has long been designated by the U.S. as a terrorist organization. Trade Point International S.A.R.L. was designated today for being owned or controlled by Noureddine. As a result of this action, all assets of those designated today that are based in the United States or in the possession or control of U.S. persons are frozen, and U.S. persons are generally prohibited from engaging in transactions with them.
Today's actions continue Treasury's campaign to target Hizballah and its enablers pursuant to E.O. 13224. Recent Treasury actions have sanctioned nearly forty individuals and entities associated with Hizballah's terrorism, criminal, commercial, and procurement activities. Among those targeted have been financiers and companies in Lebanon, global procurement networks, a facilitation network in Africa, and numerous others. In total, Treasury has designated over 100 individuals and entities associated with Hizballah.
"Hizballah needs individuals like Mohamad Noureddine and Hamdi Zaher El Dine to launder criminal proceeds for use in terrorism and political destabilization," said Adam J. Szubin, Acting Under Secretary for Terrorism and Financial Intelligence. "We will continue to target this vulnerability, and expose and disrupt such enablers of terrorism wherever we find them."
Hizballah was designated by the Department of State as a Specially Designated Global Terrorist pursuant to E.O. 13224 in October 2001. It was also designated for its support to the Government of Syria pursuant to E.O. 13582 in August 2012 and listed in the Annex to E.O. 12947 as a Specially Designated Terrorist in January 1995.
Mohamad Noureddine is a Lebanese money launderer who has worked directly with Hizballah's financial apparatus to transfer Hizballah funds via his Lebanon-based company Trade Point International S.A.R.L. and maintained direct ties to Hizballah commercial and terrorist elements in both Lebanon and Iraq.
In particular, Noureddine has provided financial services to U.S.-designated Hizballah member Adham Tabaja, and his company Al-Inmaa Engineering and Contracting LLC, U.S.-designated Hizballah Islamic Jihad member Husayn Ali Faour, and additional members of Tabaja's business network, and transferred substantial amounts of money in support of Hizballah's commercial investment activity in Lebanon and Iraq.
Noureddine has utilized an extensive network across Asia, Europe, and the Middle East to provide money laundering, bulk cash shipment, black market currency exchange, and other financial services to a variety of clients, including Hizballah members.
Hamdi Zaher El Dine
Hamdi Zaher El Dine is a Lebanese money launderer and employee of Trade Point International S.A.R.L., who has worked with Mohamad Noureddine to transfer money for Adham Tabaja and Al-Inmaa Engineering and Contracting employees.
Trade Point International S.A.R.L.
Trade Point International S.A.R.L. is a Lebanon-based, multi-purpose company that is owned or controlled by Mouhamad Noureddine.
For identifying information on today's action, click here.