Kenneth Rijock

Kenneth Rijock

Friday, April 12, 2019

US SANCTIONS LEBANESE CHAMS EXCHANGE FOR LAUNDERING FOR HEZBOLLAH

The Chams Exchange, a licensed money service business in Lebanon, as well as its principals, has been designated by OFAC for providing financial services to Hezbollah. Inasmuch as Chams moves funds to ten countries, including the United States, compliance officers in North America should examine whether there are any transactions with their banks. OFAC refers to the entity as the Chams Money Laundering organization.



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