The Financial Crimes Enforcement Network (FinCEN), an agency at the U.S. Department of the Treasury, has issued an alert urging financial institutions to actively combat potential funding sources for Hamas. The agency highlights that Hamas, the Palestinian Islamist group, funded its recent attack on Israel through an illicit financial network involving both fiat and cryptocurrency payment streams. The group raises funds through various means, including support from Iran, private donations, investments, diverting aid from legitimate charities, control of border crossings and commerce routes, racketeering, extortion, and fundraising campaigns involving virtual currency and fictitious charities. The Treasury Department is calling on financial institutions to report any suspicious transactions associated with Hamas and to be vigilant in order to avoid inadvertently financing terrorist activities. Israeli law enforcement agencies have recently closed over 100 Binance accounts and seized millions worth of cryptocurrency in an effort to cut off funding to Hamas. The group has previously encouraged its supporters to send Bitcoin to evade US sanctions.

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Information	Details
Geography	Middle East
Countries	🇮🇱
Sentiment	neutral
Relevance Score	1
People	None
Companies	Hamas, The Daily HODL, U.S. Department of the Treasury, Financial Crimes Enforcement Network (FinCEN), Binance
Currencies	Bitcoin
Securities	None