US busts Hezbollah money laundering network
The United States Drug Enforcement Agency (DEA) says it has uncovered a Hezbollah network which launders millions of dollars on behalf of Latin American drug cartels with the aim of purchasing weapons and financing their operations in Lebanon and Syria through the profits.
This scheme provided "a revenue and weapons stream ... responsible for devastating terror attacks around the world," the DEA's Acting Deputy Administrator Jack Riley said in a statement.
Four people were arrested as part of this multinational operation. Seven countries assisted the DEA in their efforts, including Belgium, France, Germany and Italy.
"DEA and our international partners are relentless in our commitment to disrupt any attempt by terrorists and terrorist organizations to leverage the drug trade against our nations. DEA and our partners will continue to dismantle networks who exploit the nexus between drugs and terror using all available law enforcement mechanisms," Riley added.
The DEA had been investigating the case since February 2015 and expect to make more arrests soon.
The operation saw Hezbollah working with the drug cartels who gave the Shiite militias their profits from cocaine deals in Europe and the United States. Hezbollah would then launder the rest of the cartels earnings back to them through the Hawala money transfer system.
It is believed that one of the reasons for Hezbollah’s involvement in this scheme is because the group no longer receives much support from Iran and has been embroiled in a costly war in Syria for over two years.
This scheme provided "a revenue and weapons stream ... responsible for devastating terror attacks around the world," the DEA's Acting Deputy Administrator Jack Riley said in a statement.
Four people were arrested as part of this multinational operation. Seven countries assisted the DEA in their efforts, including Belgium, France, Germany and Italy.
"DEA and our international partners are relentless in our commitment to disrupt any attempt by terrorists and terrorist organizations to leverage the drug trade against our nations. DEA and our partners will continue to dismantle networks who exploit the nexus between drugs and terror using all available law enforcement mechanisms," Riley added.
The DEA had been investigating the case since February 2015 and expect to make more arrests soon.
The operation saw Hezbollah working with the drug cartels who gave the Shiite militias their profits from cocaine deals in Europe and the United States. Hezbollah would then launder the rest of the cartels earnings back to them through the Hawala money transfer system.
It is believed that one of the reasons for Hezbollah’s involvement in this scheme is because the group no longer receives much support from Iran and has been embroiled in a costly war in Syria for over two years.