Hezbollah has numerous funding sources and is constantly seeking new ones. Searching for their efforts to secure additional funds can help us uncover major financial channels and expose critical aspects of their financial network

Hezbollah operates within Lebanon’s civil banking sector, using legitimate institutions as a front to hide its financial activities and gain access to the international financial system. One of the most well-known platforms is Al-Qard Al-Hasan (AQAH), designated by the U.S. in 2007 as Hezbollah’s financial firm. However, beyond AQAH, Hezbollah utilizes additional money transfer platforms to disguise its funding sources. 
AQAH follows Islamic finance principles, offering interest-free loans backed by collateral such as gold and jewelry. In addition to providing savings accounts and money transfer services, AQAH allegedly safeguards approximately $750 million annually in Iranian funding, alongside revenue streams from criminal activities such as drug trafficking and money laundering. Originally established in 1983 to serve Lebanon’s Shiite community, AQAH expanded significantly after the country’s banking crisis in 2019.
AQAH branch after the Israeli attack
Exposing Hidden Funding Sources with WEBINT and Research Capabilities 
Yet, AQAH is just one piece of the puzzle. Prolific use of money transfer platforms by Hezbollah’s financial network of fund raisers and campaigners was identified through in-depth WEBINT research, including the use of various large scale international money transfer companies as well as a local Lebanese financial services company. The use of international platforms by Hezbollah’s financial networks became evident in 2017, when it was used in the “Equip a Mujahid” campaign. The Lebanese financial services company was later mentioned in a June 2023 report by the Washington Institute for Near East Policy, which highlighted Hezbollah’s exploitation of Lebanon’s economic turmoil for financial gain. 
Another direct link between Hezbollah and the Lebanese financial services company emerged through a fundraising campaign promoted on the Qatari website Al-Araby Al-Jadid, which solicited donations for Hezbollah’s aerial weapons program. Funds for this campaign could be transferred via either the international money transfer company or the Lebanese financial services company. 
The Lebanese company has more than 900 branches and agents across the country and focuses on financial solutions, both domestically and internationally, including money-transfer services, currency exchange, e-wallets, and investments. While it is a local Lebanese company for internal use, it is noteworthy to mention its affiliation and cooperation with international money transfer platforms, potentially exposing them to regulatory fines and compliance issues stemming from the companies’ prolific use by Hezbollah's financial networks. 
To further emphasize the prolific use of the local money transfer company, one needs to look at the advertisement by The Islamic Resistance Support Organization (IRSO), which served as the key connector for the campaign, that advocates for people to use this platform on current campaigns as well as others in the past. Hezbollah consistently attempts to conceal its financial operations. However, using advanced web and open source intelligence, we can identify and analyze campaigns similar to those previously mentioned, uncover new financial channels, and expose illicit activities that have remained hidden until now and provide clients with the risk mitigation tools to avoid regulatory fines, compliance issues and potential sanctions.

‍