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 U.S Department of Treasury Designates al-Qa’ida Financial Facilitator

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Australia-based al-Qa’ida-associated facilitator Ahmed Luqman Talib for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Al-Qa’ida on October 19. Additionally, OFAC also designated one company, Talib and Sons, for being owned, controlled, or directed by Ahmed Luqman Talib.

PRESS RELEASE
“Terrorist groups such as al-Qa’ida use financial facilitators to move money around the world to help carry out terrorist activity,” said Secretary Steven T. Mnuchin. “The Treasury Department remains committed to disrupting al-Qa’ida’s financial activities and networks around the world and appreciates the collaboration with our Australian partners.”
This individual and entity have been designated pursuant to Executive Order (E.O.) 13224, as amended, which, among other things, targets those who have committed acts of terrorism and those who have materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of such acts or of persons previously designated under the E.O.

AHMED LUQMAN TALIB
Ahmed Luqman Talib has materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, al-Qa’ida, an entity listed in the Annex of E.O. 13224.
Talib is involved in operational and facilitation activities on behalf of al-Qa’ida-linked groups, including providing assistance in the movement of individuals and finances internationally in furtherance of al-Qa’ida objectives.
Talib has had financial dealings in a number of countries and is involved in dealing with gemstones, which provide him with the ability to move funds internationally for the benefit of al-Qa’ida. Talib conducts business around the world, including in Brazil, Colombia, Sri Lanka, Tanzania, Turkey, and the Gulf.

TALIB AND SONS PTY LTD
According to publicly available information, Talib and Sons are owned, controlled, or directed by Ahmed Luqman Talib. Talib and Sons is a gemstone company located in Melbourne, Australia.

SANCTIONS IMPLICATIONS
As a result of the action, all property and interests in property of these targets that are in or come within the United States or the possession or control of U.S. persons must be blocked and reported to OFAC. OFAC’s regulations generally prohibit all dealings by U.S. persons or within the United States (including transactions transiting the United States) that involve any property or interests in property of blocked persons. In addition, persons that engage in certain transactions with the individual designated today may themselves be exposed to sanctions or subject to enforcement action.
Furthermore, any foreign financial institution that has knowingly conducted or facilitated any significant transaction on behalf of individuals and entities designated today could be subject to U.S. correspondent account or payable-through account sanctions.

By Sanjida Jannat

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