Assets owned by the Barakat clan have been frozen by Argentina following suspicious transaction reporting from Casino Iguazu. 

The Argentinian casino reported that individuals would convert cash into chips and back again. The Barakat clan is believed to have crossed into Argentina from Brazil for the purposes of laundering their money through the Casino in this manner. 

The Barakat clan is suspected of involvement in a variety of financial crimes, including terrorist financing for Hezbollah. 

Analysis: While Hezballah receives significant state support from Iran and Syria, the group also employs a number of other methods of rising funds, including taxing activity (both criminal and licit). The tri-border area in Argentina, Brazil and Paraguay is widely believed to be a significant Hezbollah financing hub.  

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

Category

Casino, Hizballah, Terrorist Financing, Uncategorized

Tags

, , , ,