| 24 May 2024, Friday |

Did Lebanon become a hub for money laundering?

The financial, economic, and monetary crisis in Lebanon has bolstered the phenomenon of money laundering. The spread of the dollar on the black market raises several question marks, especially that money laundering is an fundamental crime in the global financial system.

Economist, Risk Strategist Mohammad Fheili told Sawt Beirut International (SBI) reporter Mahasin Morsel that this phenomenon should be taken into consideration. He added that Israel’s security is crucial for Americans, whether Republicans or Democrats, and we have noticed recently that it is essential for Europe too.

For Israel, Hezbollah represents the largest danger, that’s why fighting Hezbollah and its physical infrastructure is critical. Fheili said that there is a current crisis in the Congress as steps are taken to separate between Trump’s supporters and opponents, and Biden wants to negotiate with Iran, however he tightens the screws on Hezbollah so that Israel can feel comfortable. That’s why Americans are tightening the siege and combating money laundering, so Hezbollah does not benefit from it.

Fheili said: “Hezbollah is resorting to unknown people to launder money, such as those whose names have been mentioned in the Al-Qard Al-Hassan Foundation, and sanctioned since 2007.”

Fheili called on banks to pay attention to the money laundering law, considering that the pace of combating money smuggling will increase, especially with regard to targeting Hezbollah. He said that the US wants to give this as a direct reward to the extremist republicans to gain their support in the Iran negotiations.

Lebanon’s commitment to international conventions related to combating money laundering is at stake, and in the coming days we may witness a new list of names accused of involvement in this crime.

  • Sawt Beirut International