US Treasury hits Colombian rebel money exchange operation
AFP, May, 2008
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WASHINGTON (AFP) — The US Treasury Department on Wednesday announced it sanctioned a chain of Colombian money exchange offices for operating on behalf of leftist rebels with the Revolutionary Armed Forces of Colombia (FARC).
The US designation bars US persons from doing business with these individuals and entities.
The action "targets the FARC's drug trafficking and terror activities by undermining its financial network," said Adam Szubin, director of the Treasury's Office of Foreign Assets Control.
Washington considers the FARC a terrorist group.
The Treasury measure hits the Bogota-based Mercurio Internacional S.A. money exchange operation, which has several branches throughout Colombia.
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"The FARC used this Colombian money exchange house -- or "casa de cambio" as they are commonly known in Colombia -- to launder narcotics proceeds from its Eastern Bloc," the Treasury Department said in a statement.
"The FARC sells its illicit foreign currency to domestic money ...
