Lebanese Canadian Bank 'designated a primary money laundering concern'... for the benefit of Hezbollah

"The Treasury Department on Thursday was blacklisting one of the largest banks in Lebanon, accusing it of being part of what one official calls a “mind-boggling” international criminal enterprise that is laundering hundreds of  millions of dollar in illegal drug money every year for the benefit of Hezbollah. The action, which was being announced Thursday by Undersecretary of Treasury Stuart Levey, is the latest development in a four-year investigation that officials say has uncovered links between one of Columbia’s biggest drug traffickers, top leaders of Hezbollah and the Iranian government....
As a result of Thursday's action, LCB has been designated as a financial institution of primary money laundering concern. Under a provision of the U.S. Patriot Act, Treasury is proposing to ban it from engaging in any transactions with U.S. financial institutions. That rule would take effect after 60 days unless LCB takes corrective action."