Uncovering Hezbollah’s Money Trail: Gold Bars and Suitcases Buried in the Ground

In December 2020, a group of hackers known as SpiderZ launched a mysterious attack on al-Qard al-Hasan, a Lebanese financial institution that operates under the guise of charity and grants loans to the Shia community. The hackers shared dramatic videos and documents exposing the true activities of the association, its connection to Hezbollah, and the value of loans, repayment ratio, personal information about borrowers, and total budget in 2019-2020.

The hackers even sent private messages to customers urging them to withdraw their money and stop paying their loans. Furthermore, they revealed details about Hezbollah members who deposit their money in the association – including notable figures. The association claimed that the hack was an act of treason and an intelligence attack but tried to disassociate themselves from any connection to Hezbollah.

The history of al-Qard al-Hasan’s activities established it as Hezbollah’s main banking institution. The bank has over 400,000 accounts and passes billions of dollars annually through its cash and crypto transfer methods as well as smuggling in Latin America. While Lebanon’s faltering economy has only heightened the power of both Hezbollah and al-Qard al-Hasan, these groups have additional sources of income that are not related to the state such as Iran contributing $700 million annually to Hezbollah’s budget.

Alkarch al-Hassan entered into Lebanon’s economic vacuum to sustain the lives of its Shia citizens while also supporting Hezbollah’s campaign against Israel. According to research by the Information Center for Intelligence and Terrorism, there is an intense social and economic activity among Lebanon’s Shiite population with aims to transform it into a resistance society that supports Hezbollah. The tough economic situation in Lebanon affects both Hezbollah and Shiites but their additional sources of income provide extra security for their operations.

By Editor

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