Treasury Targets Sanctions Evaders Supporting Key Hizballah Financial Advisor

WASHINGTON — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated five individuals for helping U.S.-designated Hizballah money exchanger Hassan Moukalled (Moukalled) and his company, CTEX Exchange, evade sanctions and facilitate illicit activities in support of Hizballah. These individuals, including two co-founders of CTEX Exchange and two of Moukalled’s sons, operate two companies in Lebanon and the United Arab Emirates (UAE) that are being concurrently designated. Individuals and entities targeted today are being designated pursuant to Executive Order (E.O.) 13224, as amended, which targets terrorist groups, their supporters, and those who aid acts of terrorism.“Hizballah continues to rely on seemingly legitimate business investments and key facilitators to generate revenue for the group’s operations, including its destabilizing attacks across Israel’s northern border,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E.