US Sanctions Network of Money Movers for Terror Group
The U.S. this week sanctioned 16 entities and people that are part of an “expansive business network” that raises and launders money for al-Shabaab, an al-Qaida linked terrorist group. The designations target business people in Africa, the United Arab Emirates, Cyprus and Finland who have helped fund the terror group, which has allowed it to kill “thousands of innocent civilians,” the agency said.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
One “key” financial facilitator of al-Shabaab is Dubai-based Haleel Commodities L.L.C. and its subsidiaries: Cyprus-based Haleel Finance LTD, Haleel Holdings and Haleel LTD, Kenya-based Haleel Commodities Limited and Uganda-based Haleel Commodities LTD. OFAC issued new General License No. 29 to authorize the wind-down of certain transactions with Haleel Commodities and any entity it owns by 50% or more. Those transactions are authorized through 12:01 a.m. EDT April 10.
OFAC also sanctioned other companies and people in the UAE and Africa, including UAE-based Qemat Al Najah General Trading -- which helps manage funds for al-Shabaab “in connection with” Haleel Group -- and Kenya-based Faysal Yusuf Dini, who uses the Haleel Group to transfer funds on behalf of al-Shabaab. Other designations target a bus service company that OFAC said serves as a business vehicle to launder money, money managers in Finland and Uganda, and more.