Sunday, August 7th | 10 Av 5782

October 16, 2020 9:10 am

House Bill Introduced to Counter Worldwide Money Laundering by Hezbollah

avatar by

Hezbollah supporters in Marjayoun, Lebanon, May 7, 2018. Photo: Reuters / Aziz Taher / File. – A bill has been introduced in the US House of Representatives to counter money laundering by the US-designated terrorist group Hezbollah.

Rep. Joe Wilson (R-SC) introduced “The Hezbollah Money Laundering Prevention Act of 2020” on Sept. 30, based upon recommendations made by the Republican Study Committee’s National Security Strategy.

If enacted, it would put a stop to Hezbollah’s money laundering activities throughout the world, especially in Lebanon and Latin America, by requiring the president to make a determination that areas under the terrorist group’s control—in south Lebanon and in the tri-border region in South America—are “primary money laundering concerns” under Section 311 of the USA PATRIOT Act, which gives the US Treasury secretary options to more effectively target money laundering and terrorist financing.

“This bill represents the toughest sanctions on Hezbollah ever proposed by Congress,” said Wilson in a statement. “By cutting off banks in areas under the terror group’s control from the international financial system, this bill will go a long way towards drying up the Iranian terror proxy’s resources to conduct murderous attacks against the US and our allies.”

Related coverage

August 7, 2022 11:33 am

Israel, Islamic Jihad Set for Ceasefire as Rocket Barrage Continues

Israel and the Palestinian Islamic Jihad are understood to have reached a ceasefire agreement to end three days of fighting...

“This bill will make it much harder for Hezbollah to do Iran’s bidding in propping up the criminal [Bashar] Assad regime, the Houthis in Yemen, and continue to destabilize the Middle East,” he continued.

The bill has 13 co-sponsors, all Republicans.

Share this Story: Share On Facebook Share On Twitter

Let your voice be heard!

Join the Algemeiner

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.