Key facts
- The U.S. Treasury Department sanctioned 10 individuals for allegedly operating a cash-smuggling network.
- The network is accused of moving hundreds of millions of dollars to Hezbollah.
- Cash was allegedly transported on commercial flights between Iran, Turkey, the UAE, and Lebanon.
- The operation aimed to help Hezbollah obtain foreign currency and evade sanctions.
- The Treasury also re-designated Hezbollah as a 'specially designated global terrorist'.
The U.S. Treasury Department announced sanctions on Thursday against 10 individuals accused of operating a cash-smuggling network that moved hundreds of millions of dollars to Hezbollah. The network allegedly used commercial flights to transport cash between Iran, Turkey, the United Arab Emirates, and Lebanon, enabling the militant group to obtain foreign currency and evade sanctions outside the formal banking system.
The operation is linked to a scheme once associated with Behnam Shahriyari, a deceased finance official for Iran’s Islamic Revolutionary Guard Corps Quds Force. Yunus Alper Yilmaz, a Turkish businessman, is at the center of the network, accused of using Turkish currency exchange houses as fronts, along with shell companies and bank accounts tied to the IRGC-QF. Halil Ibrahim Kacmaz and Onder Dede are accused of collecting cash from these exchanges, while Vasfi Akyuz served as a logistics coordinator and courier. Six other individuals are accused of physically carrying the cash to Lebanon on commercial flights.
Separately, the Treasury re-designated Hezbollah as a “specially designated global terrorist,” citing the IRGC Quds Force’s coordination of attacks and involvement in the group’s political decisions. A State Department spokesperson stated the network allows Iran to illicitly obtain foreign currency and fund Hezbollah. The investigation was conducted in coordination with Turkish authorities, and the U.S. indicated it would continue targeting networks that finance Hezbollah's activities.