Ibrahim Says Clamping Down on IS Funding Enhances International Confidence in Lebanon

General Security chief Maj. Gen. Abbas Ibrahim said the security achievement made after unveiling money-changing offices transferring money to the Islamic State group, proves Lebanon's persistence in confronting terrorism and reinforces international confidence in the country, al-Joumhouria daily reported on Thursday.

“What we have done is part of our usual tasks which we have insisted on carrying out no matter what the obstacles are. Arresting this network, displays our follow-up for the financial, economic, and social safety which could probably be one of the most important tributaries financing terrorism,” said Abbas in an interview to the daily.

“The operation proves our engagement in confronting terrorism and drying out its sources as part of the global fight against this scourge,” stressed Abbas.

He added: “We believe this step is an advanced one in the long path so as to enhance international confidence in our actions and in the fight against the financing of terrorism.”

On Wednesday, Lebanese authorities carried out raids against currency exchange offices and money transfer companies on suspicion they sent huge sums to the Islamic State group.

A judicial source said the raids started Tuesday against several institutions "on suspicion they transferred huge sums of money to areas controlled by IS in Raqa and elsewhere", referring to the jihadists' stronghold in Syria.

A number of people had been detained for investigation but were not yet formally under arrest.

"Information is being gathered on the value of the money that was transferred," the source added.

In a statement issued late Wednesday, the General Security agency confirmed it had carried out raids across the country and detained "people of Syrian nationality", without giving figures.

It said those detained had admitted "belonging to a terrorist network" and to the transfer of money to "terrorist groups" without specifying which organizations allegedly received the funds.

Lebanese media reported that as much as $20 million had been transferred to the jihadist group, which holds territory in Syria and Iraq, as well as Libya.

But the judicial source dismissed that figure as "exaggerated" while conceding that the suspected sum was nonetheless "huge".

On Wednesday afternoon, an AFP photographer saw security forces raiding three offices on bustling Hamra Street in the west of Beirut, and seizing documents and computer equipment.

Afterwards, the raided premises were sealed with red wax and a sign posted from the military prosecutor warning against their reopening "under penalty of prosecution".

There was no official word on the number of companies that had been targeted.

Lebanon's central bank imposes strict rules on financial institutions intended to prevent money laundering and terrorism financing, including caps on the amount that can be transferred overseas without additional supporting paperwork.

Lebanon has been heavily impacted by the war in neighboring Syria since it erupted in March 2011.

Security forces have on several occasions arrested suspected IS members, including in February when two men were detained on accusations of planning an attack in central Beirut.