Treasury crackdown exposes crypto's role in $2 million Hamas fundraising network
The U.S. Treasury has sanctioned individuals and charities involved in a $2 million fundraising network that utilized cryptocurrency to support Hamas. This action highlights ongoing efforts by authorities to track and disrupt the use of digital assets in terrorist financing.
Why it matters
It underscores the U.S. government's increasing focus on crypto-asset compliance and its role in broader, multi-channel illicit financial networks.
The Treasury designated a Hamas military-wing member, two France-based individuals and two charities it says helped move more than $2 million to Hamas through a sophisticated six-year fundraising operation that used cryptocurrency and purported humanitarian donations.
The department alleged that Faouzi Barika and Amel Oualid raised funds in France for humanitarian causes, then transferred it to Hamas, the group designated as a terrorist organization in numerous jurisdictions and which has governed the Gaza Strip since 2007.
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