Posts Tagged ‘Iran’

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Iran still won’t sign accord against terror finance

February 23, 2015

The International Convention for the Suppression of the Financing of Terrorism went into effect in 2002. Over 180 countries have signed the rather bland convention. But not Iran.

Not that we could take Iran at its word, but shouldn’t they agree to sign the convention prior to concluding a deal with Iran about their nuclear program?

Lebanon hasn’t signed it either. Other non-signatory countries with Islamist political movements include The Gambia and Chad. But they don’t have nuclear programs.

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Dark money news: recommended reading

February 19, 2015
  • Names of three Golden Chain donors to Al Qaeda are said to have shown up on list of Swiss bank account holders… more>>
  • Billions are invested into the financial technologies of tomorrow while pennies are spent on security… more>>
  • Not persuaded that some diplomats launder money? The FBI says a former ambassador from Venezuela raised funds for Hezbollah while in office… more>>
  • Weapons smuggling is the target of recurring U.S. sanctions against small, obscure Iranian companies… more>>
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Clandestine money news: suggested reading

February 12, 2015
  • Vigilante hackers want to bankrupt terrorists by attacking their banks’ websitesmore>>
  • A federal judge rejects a slap-on-the-wrist deal with a corporation that made $21 million from illegal transactions with Iran… more>>
  • ISIS is assessing a 50 percent payroll tax against Iraqi civil servants working in their territory… more>>
  • Despite being designated a state sponsor of terrorism, Syria has been given $200,000 of your tax dollars through the U.S. Ambassadors Fund for Cultural Preservation… more>>
  • Want more news? Visit Drugs & Thugs Blog for more recommended reading… more>>
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Lawsuit: sanctions evasion helped kill U.S. troops

November 30, 2014

Many of the attacks during the Iraq insurgency that left over 4,000 American troops dead were carried out by Sunni militants funded by and aligned with Al Qaeda, former members of Saddam Hussein’s regime, the Gulf monarchies, or combinations of all three. But a new lawsuit by veterans and the families of our war dead is pointing out that a lot of the killing of coalition forces also came from Shia terrorists trained and funded by Iran. Iran was able to fund the trainers of those terrorists partly because of Iran’s access at the time to the international financial system as allowed by major banks with branches in the U.S. despite the sanctions against Iran throughout the 2000s.

From Reuters earlier this month (h/t El Grillo):

U.S. veterans sue banks, claim they should pay for Iraq attacks

Wounded U.S. veterans and family members of U.S. soldiers killed in Iraq sued five European banks on Monday, seeking to hold them responsible for shootings and roadside bombings because they allegedly processed Iranian money that paid for the attacks.

The lawsuit filed in U.S. District Court in Brooklyn, New York, named Barclays Plc, Credit Suisse Group AG, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Standard Chartered.

Barclays, Credit Suisse, RBS and Standard Chartered declined to comment. HSBC did not respond to requests for comment.

The lawsuit was brought under the U.S. Anti-Terrorism Act, a 1992 law that permits victims to bring private suits against alleged financiers of militant operations.

The lawsuit alleges the banks conspired with Iranian banks to mask wire transactions in order to evade U.S. sanctions. The Iranian banks then funneled more than $100 million to militant groups that operated in Iraq at Iran’s direction, according to the suit.

The militant groups included a Shi’ite militia in Iraq, Kataib Hezbollah, as well as Quds Force, the overseas arm of Iran’s Islamic Revolutionary Guard Corps, the suit says.

Since 2009, the five banks have agreed to pay about $3.2 billion to the U.S. government to resolve allegations that they handled money in violation of sanctions against nations such as Iran, Libya and Cuba. All the banks signed deferred prosecution agreements with the U.S. Justice Department in addition to settlements with U.S. banking regulators…

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Who finances Hamas’s rockets?

July 14, 2014

Short answer: Iran.

Iran manufactures missiles, loads them up at its Bandar Abbas port, ships them to Sudan, where they are transported by ground to the Sinai for final transfer through smuggling tunnels to Hamas and Palestinian Islamic Jihad in Gaza.

Smuggling was rampant particularly when the Muslim Brotherhood controlled Egypt under Muhammad Morsi, making a significant contribution to Hamas’s 10,000 missile stockpile. “Under Morsi it was almost a highway,” said one observer.

Shorter-range missiles are built in Gaza itself. Technical expertise lent by Iran is helping develop Hamas’s homegrown rocket program, although even as recently as two years ago one analyst observed that Hamas lacks the capacity within Gaza to build a banana plantation, much less a missile factory.

Some missiles, such as the M-302, are manufactured by Syria “under license” from China, which designed it. Assad would not be able to produce these weapons or remain in power without Iranian backing in the first place.

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Terror finance news: recommended reading

July 10, 2014
  • Babar Ahmad to be sentenced for managing websites that raised money for Chechen jihadists, the Taliban and Al Qaeda… more>>
  • Victims of Iran-backed terrorism could seize Iranian Internet domain names to satisfy $1.2 billion in judgments they’ve won in court… more>>
  • Businesses engaged in commerce in Panama and Venezuela should take note of a bill before Congress to prevent the financing of Hezbollahmore>>
  • A Muslim Brotherhood figure accepts a $140,000 check from a Hamas-linked Kuwaiti charity to build a new mosque in Switzerland… more>>
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5 big terror finance stories so far in 2014

May 30, 2014

Money Jihad has blogged or tweeted about all these news stories, but they’re all significant enough that they merit a second look by anybody interested in the topic of terror finance. Here are some of the most significant news articles and commentaries written about terrorist financing news developments of the year so far:

Australian money laundering bust: “Project Eligo” resulted in at least 105 arrests, 190 criminal charges, and over $500 million in assets seized in Australia since the beginning of the year. Exchange houses involved in the laundering operation were delivering a cut of profits to Hezbollah, illustrating the control that Hezbollah exerts over global financial transactions…more from the Sydney Morning Herald>>

Canada seizes $7 million in Iranian assets: The seizure is significant not only because it delivers justice to victims of Iranian-sponsored terrorism, but because it demonstrates the validity of the legal theory that terrorism can be partially bankrupted through litigation. Previous judgments have been just that—judgments without seizing or disbursing assets. Now legal methods prove that the lawyers of terrorists’ victims deserve a seat at the table along with military operations, intelligence, law enforcement, sanctions, and other counter-terror techniques…more from the CBC>>

Turkish corruption scandal: The ongoing Turkish corruption scandals boil down to a rivalry between two Islamists, Prime Minister Recep Erdogan and the cryptic Pennsylvania imam Fetullah Gulen. But the scandal has also revealed the degree to which Turkey has enabled Iranian sanctions evasion, and at the same time we’re learning more about Turkey’s support for Al Qaeda and Hamas…more from Jonathan Schanzer>>

Sanctions relief offered to Iran could fund terrorism. Easing Iranian sanctions as part of a larger diplomatic push offers no controls over how Iran uses the money. Not only will the money not be used to satisfy judgments won by the victims of Iranian terror, but the money could be given to the perpetrators of Iranian terror, including Hezbollah, the IRGC, Hamas, and the Quds Force…more from Adam Kredo of the Washington Free Beacon>>

Kuwait’s terror financing cabinet minister proves too hot to handle. Kuwait, whose hide the U.S. saved during the Gulf war, brazenly stabbed us in the back after 9/11 by failing to outlaw terrorist financing for 10 years. Then Kuwait added insult to injury in January by promoting a top private fundraiser for jihad in Syria to not one but two major government posts simultaneously. This prompted US Treasury officials to grow a spine and actually condemn Kuwait for rewarding this kind of person. Nayef al-Ajmi finally quit earlier this month… more from Reuters>>

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