Counter-Hizballah Group Considers Methods to Prevent Financial System Abuse
In the first-ever meeting of the Counter-Hizballah International Partnership ("CHIP"), representatives from 30 countries considered methods to diminish the group's use of the international financial system to fund terrorist activities.
The U.S. Treasury Department, which convened the meeting, reported that CHIP participants identified several ways to target Hizballah, including (i) establishing cross-border information sharing for financial intelligence units, (ii) enhancing finance risk assessments, (iii) creating financial sanctions regimes targeted at Hizballah's global financial networks, and (iv) prosecuting terrorists and their affiliated financial facilitators.