U.S. Treasury says sanctions money laundering group, Dubai-based supporter

by Reuters
Thursday, 12 November 2015 21:21 GMT

WASHINGTON, Nov 12 (Reuters) - The U.S. Treasury said on Thursday it had imposed sanctions on the Altaf Khanani Money Laundering Organization and its Dubai-based supporter, the Al Zarooni Exchange, for laundering money for criminals and political extremists.

"The Khanani Money Laundering Organization exploits its relationships with financial institutions to funnel billions of dollars across the globe on behalf of terrorists, drug traffickers, and criminal organizations," Acting Treasury Undersecretary Adam Szubin said in a statement.

He said the designation of the two groups would help prevent them from "gaining access to the international financial system to launder money for these illicit actors."

(Reporting by David Alexander; Editing by Eric Beech)

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