On June 27, 2013 • In Canada, Drug trafficking, Hezbollah, Islamic Banking, Jihad, Jihadist Groups/Individuals, Lebanon, Money Laundering, Terror Funding

A Lebanese bank that laundered money from drugs and other operations for clients tied to Hezbollah terrorists agreed to pay US authorities $102 million to settle the charges.

Beirut-based Lebanese Canadian Bank was targeted in February 2011 for moving hundreds of millions of dollars for criminal groups and traffickers operating in Latin America, West Africa and the Middle East.

Some of the customers it served were closely linked to Hezbollah, one of the world’s most notorious Jihadist terrorist organizations.

Also fined yesterday was the Hassan Ayash Exchange Company, one of two money changers accused of working with the bank in the laundering schemes. Hassan Ayash Exchange agreed to forfeit $720,000 for its role.

http://zeenews.india.com/news/world/us-fines-hezbollah-bank-usd-102-mn-for-laundering_857876.html