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Friday 16 December 2011

US: prosecutor alleges Hezbollah laundered money with used-car sales

As a practising solicitor, anti-money-laundering checks are the bane of my life, especially since I can't see how what I do for clients could ever possibly facilitate money laundering. Maybe I need to think a little more laterally, for Automotive News reports today that the US federal government has filed a civil complaint against Lebanese Canadian Bank and two Lebanese exchange houses, alleging that they helped launder more than $480 million for Hezbollah in a scheme involving buying and selling used cars.

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