The Treasury Department sanctioned several individuals and entities for engaging in money laundering operations that benefit the terrorist group Hizballah, The Wall Street Journal reported.
The targets of the sanctions had worked with international drug trafficker Ayman Joumaa to move millions in drug-related money to the Islamist group.
“The Joumaa network is a sophisticated multinational money laundering ring, which launders the proceeds of drug trafficking for the benefit of criminals and the terrorist group Hezbollah,” David S. Cohen, the undersecretary of Treasury for terrorism and financial intelligence, said in a statement.
The Drug Enforcement Agency, which led the investigation of Joumaa, praised Treasury’s action. The investigation “that helped lead to today’s Treasury actions is critical to protecting the U.S. financial system from illicit activity and is another tool used to disrupt and dismantle these drug and money laundering networks,” John Arvanitis, DEA financial operations chief, said in the statement.