Article: Canada Says Hizbullah, Iran Involved in Money Laundering

Article - Media, Publications

Canada Says Hizbullah, Iran Involved in Money Laundering

Naharnet Newsdesk, 04 May 2021

The Canadain federal government has tasked a committee with investigating money laundering, gambling and drug smuggling operations through casinos in Vancouver, in which a network reportedly affiliated with the Iranian regime and Hizbullah are involved, al-Arabiya network revealed on Tuesday.

The committee provided Al-Arabiya channel with part of the investigation, which was conducted last March, in which an officer revealed the involvement of Iran and Hizbullah in the money laundering process.

A former Canadian Royal Mounted Police officer said:”We have seen their continuing affinity (Iranian regime network and Hizbullah) with Chinese network active in illegal activities in Canada,” he said, pointing out to “phone calls” between the two parties. Continue reading “Article: Canada Says Hizbullah, Iran Involved in Money Laundering”

Article:Canada’s casinos … one of Hezbollah’s ways of laundering money

Article - Media, Publications

Canada’s casinos … one of Hezbollah’s ways of laundering money

Assumetech, 03 May 2021

The Canadian federal government has set up a committee to investigate money laundering operations, die through gambling in Casinos in Vancouver and drug smuggling, involving a network affiliated with the Iranian regime and the Hezbollah militia.

The committee provided the Al-Arabiya Canal with part of the investigation carried out in March last year, in which an official die Iran and Hezbollah involvement in money laundering process revealed. Continue reading “Article:Canada’s casinos … one of Hezbollah’s ways of laundering money”

Article: HSBC scandal further erodes credibility of UK banking industry

Article - Media, Publications

HSBC scandal further erodes credibility of UK banking industry

AFP, 22 July 2012

London: A scandal erupting at Europe’s biggest bank HSBC has added to concerns over the state of Britain’s financial sector amid the Barclays rate rigging affair and as the industry faces a major shake-up.

HSBC last week apologised and its head of compliance David Bagley resigned after US lawmakers accused the London-based bank of failing to apply anti-laundering rules, benefitting Iran, terrorists and drug dealers.

The HSBC affair follows hot on the heels of the Libor interest rate rigging scandal that has brought down top executives at Britain’s Barclays bank — most notably its chief executive Bob Diamond and chairman Marcus Agius.

Regulators are reportedly investigating HSBC, as well as Credit Agricole, Deutsche Bank and Societe Generale, over alleged manipulation of the Libor rate after Barclays was recently fined £290 million (Dh1.66 billion) over the affair.

Britain’s financial regulator, the Financial Services Authority (FSA), has said its Libor probe is looking at seven groups, which are not only British institutions.

Bank of England governor Mervyn King has meanwhile proposed that central bank governors and regulators discuss Libor reform at their upcoming meeting in Basel, Switzerland, on September 9.

Barclays has admitted attempting to manipulate the Libor and Euribor rates between 2005 and 2009.

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