U.S. Treasury Department Agency: Financial Institutions Should Look Out for Hamas Crypto Fundraising

It has been just revealed the fact that the US Treasury Dept Agency said that financial institutions should be extremely cautious. Check out the latest reports about this below.

The Financial Crimes Enforcement Network (FinCEN), a Treasury Department agency, has issued an alert stating that financial institutions must play a proactive role in preventing potential funding sources for Hamas.

According to FinCEN, an illicit financial network that involves both fiat and crypto payment streams funded the recent Hamas attack on Israel, highlighting the need for action against money laundering and terrorism financing.

“Hamas raises funds to support its operations and members in a variety of ways, including through: support from Iran; private donations; a global portfolio of investments; diverting aid and support from legitimate charities; the control of border crossings and avenues of commerce; racketeering business frameworks; extortionary practices around local populations; and fundraising campaigns involving virtual currency and fictitious charities raising both fiat and virtual currency.”

As the online publication the Daily Hodl notes, The Treasury Department is calling on financial institutions to report any suspicious transactions that could be potentially associated with the Palestinian Islamist group. They also warned to look out for red flags to avoid inadvertently financing terrorist activity.

Israeli law enforcement agencies recently ordered the closures of more than 100 Binance accounts and seized millions worth of crypto in an effort to cut funding to Hamas, according to a report from the Financial Times, which cited “people directly familiar with Israel’s enforcement actions.”

It looks like MicroStrategy’s Michael Saylor continues to praise Bitcoin. Check out the latest reports about this and see the video featuring Saylor speaking during Tucker Carlson’s show.

Check out the clip featuring the video below:

What a fucking legend #Bitcoin pic.twitter.com/0rUgUQ82yA

— RŌNIN (@ronin21btc) October 22, 2023

Here is the post that Saylor himself shared:

#Bitcoin is Digital Gold. pic.twitter.com/yVET8NqBed

— Michael Saylor (@saylor) October 21, 2023

Stay tuned for more news from the crypto space.