Treasury Sanctions Lashkar-E-Tayyiba Leader and Financial Conduit

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8/27/2014


Action Targets Founding Member of LT-affiliated NGO, Falah-i-Insaniat Foundation, and his Pakistan-based Money Service Provider
 
WASHINGTON – The U.S. Department of the Treasury today targeted the leadership and financial networks of Lashkar-e-Tayyiba (LT) by designating Muhammad Iqbal and Asma Money Exchangers as Specially Designated Global Terrorists (SDGTs) pursuant to Executive Order (E.O.) 13224.  Iqbal and Asma Money Exchangers are being designated for providing financial, material, or technological support to, or financial or other services to or in support of, LT, a terrorist organization based in Pakistan.  Asma Money Exchangers is also designated for being owned or controlled by Iqbal.  
 
“Muhammad Iqbal exploited the trust placed in him as a financial intermediary to help LT receive money through his business, Asma Money Exchangers,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen.  “Money service providers and other financial institutions must be careful gatekeepers, and keep terrorist money out of the international financial system.”

Muhammad Iqbal

Iqbal is a founding member of LT-affiliated NGO Falah-i-Insaniat Foundation’s (FIF) governing board.  The State Department identified FIF as an alias of LT in November 2010.  Iqbal uses his business, Asma Money Exchangers (AME), to conduct financial transactions on behalf of LT and its affiliates.  As of April 2013, Iqbal informed customers that they could send money from AME to LT front Jamaat-ud Dawa (JUD), which the State Department identified as an alias of LT in April 2006.  As of 2010, Iqbal has also served as FIF’s Finance Secretary.  In this role, Iqbal shared responsibility along with six other FIF officers for approving new members of the group.  Iqbal and these six FIF officers were also responsible for identifying banks to hold FIF funds and endorsing, signing and delivering check drafts and other money payment orders on behalf of FIF.   During this time, Iqbal sent about $25,000 to LT operations chief and SDGT Zaki-ur-Rehman Lakhvi and assisted LT chief financial officer and SDGT Haji Muhammad Ashraf in sending money to an LT associate.  

Asma Money Exchangers

Asma Money Exchangers (AME) is a money service provider and currency exchange business controlled by its chief executive Iqbal that provides financial services to LT and serves as a conduit for financial donations to LT and its affiliates.  As of April 2013, AME accepted donations on behalf of LT and facilitated financial transfers between LT donors and the group.  Also in 2013, AME displayed in its place of business donation boxes for FIF.  AME has provided financial services to LT since late 2005.

As a result of today’s action, all property and interests in the United States or in the possession or control of U.S. persons in which Iqbal and Asma Money Exchangers have an interest are blocked, and U.S. persons are prohibited from engaging in transactions with them.
News Source : Treasury Sanctions Lashkar-E-Tayyiba Leader and Financial Conduit
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