The Hezbollah International Financing Prevention Act, which was adopted unanimously by the Senate and House of Representatives, has been signed into law.
Hezbollah’s drug business, money laundering, and other criminal activities are critical for funding its Jihad.
The new law seeks to “prevent Hezbollah’s global logistics and financial network from operating in order to curtail funding of its domestic and international activities, and utilize all available diplomatic, legislative, and executive avenues to combat the global criminal activities of Hezbollah as a means to block that organization’s ability to fund its global terrorist activities.”
Under the new law, the President will issue regulations prohibiting or imposing strict conditions on U.S. accounts used by foreign financial institutions that facilitate transactions with Hezbollah.
The law also provides for monitoring Hezbollah’s TV station, al-Manar, and taking action against satellite, broadcast, Internet, or other providers that work with al-Manar.