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Money exchange targeted by Treasury

Feb. 26, 2013 at 4:24 PM   |   Comments

WASHINGTON, Feb. 26 (UPI) -- The U.S. Treasury Department Tuesday targeted the Roshan Money Exchange and Pakistani owner Ahmed Shah Noorzai, designating them as supporters of the Taliban.

The money exchange, known in the Middle East as a "hawala," is a primary agent in storing and transferring funds and profits in support of Taliban military operations, and the Taliban's role in the Afghan narcotics trade, a Treasury Department statement said.

"These financial networks are instrumental in funneling money for terrorist operations, and they are also deeply involved in managing the illicit revenue of the Taliban's vast narcotics trade," said David S. Cohen, undersecretary for terrorism and intelligence.

The target designation freezes any assets in the United States and proscribes U.S. citizens from doing business with the designated persons or entities.

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