Hizballah Money Laundering Prevention Act of 2021 This bill establishes measures to deter money laundering by Hizballah in Lebanon. Specifically, the Department of the Treasury must prohibit or place conditions on the opening or maintaining of certain correspondent or payable-through accounts by the Central Bank of Syria if Treasury determines that certain jurisdictions in Lebanon are jurisdictions of primary money laundering concern. Further, the President must sanction certain senior foreign political figures or foreign persons that the President determines have knowingly provided material support to or engaged in a significant transaction with Hizballah.
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
International Affairs
Bank accounts, deposits, capitalCongressional oversightDiplomacy, foreign officials, Americans abroadForeign and international bankingFraud offenses and financial crimesHuman rightsLebanonMiddle EastSanctionsSyriaTerrorism
Hizballah Money Laundering Prevention Act of 2021
USA117th CongressS-1637| Senate
| Updated: 5/13/2021
Hizballah Money Laundering Prevention Act of 2021 This bill establishes measures to deter money laundering by Hizballah in Lebanon. Specifically, the Department of the Treasury must prohibit or place conditions on the opening or maintaining of certain correspondent or payable-through accounts by the Central Bank of Syria if Treasury determines that certain jurisdictions in Lebanon are jurisdictions of primary money laundering concern. Further, the President must sanction certain senior foreign political figures or foreign persons that the President determines have knowingly provided material support to or engaged in a significant transaction with Hizballah.
Bank accounts, deposits, capitalCongressional oversightDiplomacy, foreign officials, Americans abroadForeign and international bankingFraud offenses and financial crimesHuman rightsLebanonMiddle EastSanctionsSyriaTerrorism