Thursday, February 10, 2011
US Treasury: Hezbollah-linked bank involved in money-laundering
The US Treasury Department accused a Beirut-based bank of involvement in an international money-laundering and drug-trafficking operation with ties to the Lebanese group Hezbollah.
The Treasury officially designated Lebanese Canadian Bank as a "primary money laundering concern," saying this might eventually lead to actions that force US financial institutions to cut off some of their ties with the bank.
"Several individuals involved in this global trafficking and money laundering network hold or utilize cash deposit accounts at LCB to move hundreds of millions of dollars monthly in cash proceeds from illicit drug sales into the formal financial system," the Treasury said in a statement.
The Treasury officially designated Lebanese Canadian Bank as a "primary money laundering concern," saying this might eventually lead to actions that force US financial institutions to cut off some of their ties with the bank.
"Several individuals involved in this global trafficking and money laundering network hold or utilize cash deposit accounts at LCB to move hundreds of millions of dollars monthly in cash proceeds from illicit drug sales into the formal financial system," the Treasury said in a statement.
COMMENTS >
Director: Orlando Mario Vignatti - Edition No. 3676 - This publication is a property of NEFIR S.A. - Issn 1852 - 9224 - Te. 4349-1500 - Paseo Colón 1196, (C1063ACY) CABA