U.S. Sanctions Hezbollah Crypto Operator Linked to Terrorist Funding
Tawfiq Muhammad Said Al-Law, a hawala operator involved in Hezbollah crypto funding, has been sanctioned by the U.S. Treasury’s Office of Foreign Assets Control (OFAC), the federal agency announced Tuesday.
According to Tuesday press release from OFAC, Al-Law is accused of “having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Hezbollah.”
Treasury has sanctioned 6 entities, 2 people and 2 tankers across 5 countries who are involved in the financing or shipping of oil for the IRGC-QF, the Houthis, and Hizballah – another step in the campaign to disrupt IRGC-QF support to terrorist proxies. https://t.co/hSFydBbEXu
— Treasury Department (@USTreasury) March 26, 2024
The U.S. claims Al-Law is responsible for providing digital wallets to Hezbollah related to commodities sales benefitting Quds Force , a branch of the terrorist organization Islamic Revolutionary Guard Corps dedicated to “ cultivating and supporting terrorist groups abroad.”
The Hezbollah crypto operator also stands accused of conducting cryptocurrency transfers for the Qatirji Company, a trucking business known for shipping weapons from Iraq to Syria, run by the OFAC-designated Muhammad al-Qatirji.
“Treasury remains resolute in our commitment to deploy our tools against those who seek to fund the illicit activities of the IRGC-QF and its destabilizing proxy groups,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “The United States will continue to take action to disrupt the abuse of international energy markets to facilitate terrorist activities.”
According to blockchain intelligence firm Chainalysis, the Lebanon-based Al-Law
