The US has slapped sanctions on a Pakistan-based group and its affiliate in Dubai, saying it has ties with terrorist outfits like the LeT and underworld don Dawood Ibrahim, for laundering money for criminals and political activists.
“The Khanani Money exploits its relationships with financial institutions to funnel billions of dollars across the globe on behalf of terrorists, drug traffickers, and criminal organisations,” said Acting Under Secretary for Terrorism and Financial Intelligence Adam J Szubin yesterday.
“Today’s [Thursday] action hinders the Khanani from gaining access to the international financial system to launder money for these illicit actors,” he said.
The Pakistan-based group launders illicit funds for organised crime groups, drug trafficking organisations, and designated terrorist outfits throughout the world, the US Treasury said.
Additionally, the Treasury also designated Dubai-based money services firm Al Zarooni Exchange for being owned or controlled by, or acting for or on behalf of directly or indirectly, the Khanani , and for materially assisting, sponsoring, or providing financial, material, or technological support for, or goods or services to or in support of, the Khanani.
As a result of the Treasury’s action, any property in the US, or in the possession or control of the US, persons, in which Khanani or Al Zarooni Exchange has an interest, are blocked, and Americans are prohibited from engaging in transactions with them.
Khanani is composed of individuals and entities operating under the supervision of Pakistani national Altaf Khanani, who the US Drug Enforcement Administration (DEA) arrested this September.
