The US Treasury Department's Office of Foreign Assets Control, or OFAC, said it has sanctioned a long-running funding scheme that supported Hamas through fake charities and cryptocurrency transfers totaling more than $2 million. The action targets one member of Hamas' military wing, two French nationals, and two affiliated entities that OFAC said played a key role in moving funds to the group. According to the agency, the case exposed a complex network that used digital assets and charitable cover to finance a terrorist organization. As a result of the sanctions, any property or interests in property of the designated individuals and entities that are in the United States are blocked, and US persons are generally prohibited from engaging in transactions with them. The announcement was cited from the US Treasury.
The US Treasury Department's Office of Foreign Assets Control (OFAC) said on Thursday it had sanctioned a multi-year scheme that provided funding to Hamas. According to the announcement, the network moved more than $2 million through fake charities and cryptocurrency.
Sanctions cover individuals and affiliated entities
The designations include one member of Hamas' military wing, two French nationals, and two affiliated entities that OFAC said provided critical funding for Hamas.
OFAC says the case exposed a complex financing network
OFAC said the action exposed a complex network that used cryptocurrency and charitable cover to fund a terrorist organization. Under the sanctions, any assets of the designated individuals and entities in the United States are blocked, and US persons are generally barred from transacting with them.
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