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U.S. Treasury holds multilateral meeting to establish the International Association against Hezbollah (CHIP) –

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By The Free Iranian Staff


This week the U.S. Department of Treasury held the first meeting of the International Association against Hezbollah (CHIP) to establish a multilateral cooperation targeting Hezbollah’s global financial networks.

More than 30 countries from the Middle East, Europe, Asia and Africa participated in the event, which was held on the margins of the annual fall meetings of the World Bank and the International Monetary Fund.

U.S. Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker. REUTERS/Arnd Wiegmann

“Hizballah leverages a network of financiers and supporters around the world to fund its violent agenda.  The CHIP unites the international community in an aggressive campaign to confront Hizballah’s evolving schemes to better protect the international financial system from exploitation,” said Sigal Mandelker, Treasury Under Secretary for Terrorism and Financial Intelligence. “The CHIP is an important initiative to share information and build capacity among our partners to more effectively leverage all available financial tools against Hizballah.”

At the meeting, the United States condemned the misuse of the international financial system by Hezbollah. He also identified the measures that countries should take to curb such abuse, including the exchange of information between the financial intelligence units, the strengthening of assessments of the risks of terrorist financing, the development of selective financial sanctions regimes. and the prosecution of terrorists and their financial facilitators.

Member countries noted the importance of raising the debate around Hezbollah in international forums to give momentum and ensure coordination of efforts. The association promised to send technical experts to the next meeting of the Law Enforcement Coordination Group (LECG), to be held in The Hague, the Netherlands, on December 17 and 18.

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