Treasury sanctions ISIL financier, two money services for links to terrorist organizations

The U.S. Department of the Treasury recently took action to disrupt the financial infrastructure of the Islamic State in Iraq and the Levant (ISIL) by designating the Iraq-based Selselat al Thahab Money Exchange as well as ISIL financier Fawaz Muhammad Jubayr al-Rawi and his company, the Hanifa Currency Exchange in Albu Kamal, Syria.

The department worked in conjunction with the Iraqi officials to identify ISIL-linked money services and businesses. In addition to the Treasury’s actions, the Government of Iraq has taken steps under its domestic authorities to bar al-Rawi and the two money services from accessing the Iraqi financial systems and freeze any assets they may have, subject to Iraq’s jurisdiction. Further, Iraqi authorities, with U.S. Treasury support, are implementing a strong anti-money laundering and counterterrorist financing regime to protect their financial system from being exploited by various terrorist groups.

“Today, in close collaboration with the Government of Iraq, we are targeting exchange houses in Syria and Iraq that ISIL has used to support its operations and terrorist activity,” Adam J. Szubin, acting under secretary for Terrorism and Financial Intelligence, said.

The actions are pursuant to Executive Order 13224, which targets terrorists and those who provide financial support to ISIL’s operations. The treasury’s actions will now block all property and interests in property of all designated individuals and organizations and U.S. persons will be generally prohibited from engaging in transactions with them.