The U.S. Treasury Department’s Office of Foreign Assets Control has sanctioned three individuals and two charities accused of moving more than $2 million for Hamas through cryptocurrency and fraudulent charitable fundraising, according to Techub, citing BeInCrypto. The sanctioned individuals are Saleem al-Zaq, identified as a member of Hamas’ military wing, and two France-based fundraisers, Faouzi Barika and Amel Oualid. The two charities named in the action are Association Baraka and Ensemble C Mieux.
Treasury said Barika and Oualid raised money under the cover of charitable activity and then transferred hundreds of thousands of dollars in digital assets to al-Zaq, who then passed the funds to Hamas. The department did not disclose how much of the more than $2 million total was specifically moved via cryptocurrency.
The U.S. Department of Justice has also charged al-Zaq and said six people have been arrested. Separately, blockchain analytics firm Chainalysis said it had identified counterparties and exchange addresses tied to the network.
The U.S. Treasury Department’s Office of Foreign Assets Control has sanctioned three individuals and two charities accused of moving more than $2 million for Hamas through cryptocurrency and sham charitable fundraising.
Three individuals and two charities were named
The sanctioned individuals are Saleem al-Zaq, identified as a member of Hamas’ military wing, and two French fundraisers, Faouzi Barika and Amel Oualid. The two charities named in the action are Association Baraka and Ensemble C Mieux.
Treasury says digital assets were routed to al-Zaq
According to the Treasury Department, Barika and Oualid raised funds in the name of charity and then transferred hundreds of thousands of dollars in digital assets to al-Zaq, who then sent the funds to Hamas. Treasury did not disclose the specific amount that was transferred through cryptocurrency.
Justice Department also filed charges
The U.S. Department of Justice has also charged al-Zaq and said six people have been arrested.
Chainalysis identified related addresses
Blockchain analytics firm Chainalysis has identified counterparties and exchange addresses linked to the network.
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