US Sanctions: Security Expert Says Government’s Response to Alleged Terrorism Funders Could Impact Economy
- A security expert believes that the timing of the US sanctions on South Africans and companies is sensitive
- The impact of the sanctions being imposed could heavily affect the country’s Financial Action Task Force (FATF)
- The government’s response to the individuals and companies allegedly funding terrorism is highly important
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DURBAN - The timing of the US sanctions on South African companies and individuals allegedly linked to the Islamic State (ISIS) group has been labelled as sensitive.
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The impact of the sanctions being imposed could heavily affect the country’s Financial Action Task Force (FATF) later this year. The country could be greylisted, causing an impact on the economy.
Security expert Ryan Cummings told News24 that the government’s response to the sanctions could determine if the country is greylisted. He said the FATF raised the issue of South Africa’s legislation regarding money laundering and anti-terrorism financing.
Cummings said that since the country now has individuals allegedly financing terrorist activities, the government’s response is highly important.
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The sanctions follow the US warning of a potential terrorist attack in Johannesburg.
According to EWN, Durban-based ISIS cell alleged leader Farhad Hoomer was previously sanctioned. Businessmen allegedly linked to Hoomer, Nufael, Yunus Mohamad, Mohamad and Umar Akbar, have also been sanctioned.
The companies sanctioned are MA Gold Traders, Bailey Holdings, Flexoseal Waterproofing Solution, HJ Bannister Construction, Sultans Construction, Ashiq Jewellers, Ineos Trading, and Shaahista Shoes.
US sanctions 4 people linked to alleged ISIS leader operating in South Africa
In a related matter, Briefly News also reported The United States of America flagged individuals linked to the Islamic State cell (ISIS) network in South Africa on Monday, 7 November.
The country announced sanctions targeting alleged members of ISIS and the companies they control due to their support of the terrorist group.
The US treasury department announced that the sanctions are an attempt to prevent support to the network and growth in the country. Individuals linked to a man who is allegedly leading an Islamic State cell in Durban are targeted by the US.
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Source: Briefly News
