Iran-backed Houthis admit money laundering and terrorist financing operations

The Iran-nacked Houthis, have admitted the increase in money laundering and financing of terrorism in their areas of control, in a series of periodic reports they issue under the supervision of the International Financial Action Task Force (FATF) and the Middle East and North Africa Financial Action Task Force (MENAFATF).

Statistical data of the "Yemeni Financial Information Collection Unit" affiliated to the "National Committee for Combating Money Laundering and Terrorist Financing" (run by the Houthis) showed the recording of serious financial crimes committed by banks and exchange companies in Sana'a and the governorates under their control with the support of the group's leaders, in addition to laundering operations, terrorist financing, fraud, forgery, and Security Council blacklists.

The data monitored 524 notifications of money laundering and terrorist financing in one year, compared to 316 notifications in the previous year, an almost double increase.

Since the outbreak of the war in late March 2015, the leaders, officials and supervisors of the Houthi militia have carried out extensive money laundering operations for billions and millions of riyals that are seized from the state’s general budget, special funds, tax and customs revenues, oil derivatives, domestic gas, telecommunications companies, cement and cigarettes.

The United Nations defines money laundering as “the processing of proceeds of crime to disguise their illicit origin.” This process is of particular importance because it enables the criminal to enjoy these profits without endangering their source.