Treasury sanctions Hamas military wing member and two France-based individuals over $2 million financing scheme
The Treasury Department says the designations target a multi-year network that used sham charities and cryptocurrency to send money to Hamas.
What we know
- Treasury's Office of Foreign Assets Control (OFAC) designated a member of Hamas's military wing, two France-based individuals and two affiliated entities. [1]
- Treasury said the scheme ran for multiple years and moved more than $2 million to Hamas through sham charities and cryptocurrency. [1]
- Treasury described the two affiliated entities as providing critical financing to Hamas. [1]
- Treasury Secretary Scott Bessent said Treasury will keep identifying and penalizing those who supply Hamas with funding. [2] [3]
- Not yet confirmed: The sources do not name the designated individuals or entities, identify the sham charities, or describe how the cryptocurrency was moved. Treasury's account of the scheme has not been independently verified.
The Treasury Department said on X on Oct. 2 that its Office of Foreign Assets Control (OFAC) had designated five targets tied to the financing of Hamas. [1]
The designations cover a member of Hamas's military wing, two individuals based in France and two affiliated entities, according to Treasury. [1]
Treasury said the action exposes a multi-year scheme that moved more than $2 million to Hamas through sham charities and cryptocurrency. It described the two affiliated entities as providing critical financing to the group. [1]
Treasury Secretary Scott Bessent said in a post on X that terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to sustain their operations. [2][3]
Bessent wrote that Treasury "will continue to identify, isolate, and impose consequences on those who provide Hamas with the financial lifelines it needs to survive." [2]
The Treasury post linked to additional material that was not part of the sources reviewed for this report.
RECEIPTS · 3 SOURCES
- 1POST ON X · @USTreasury (Treasury Department)Today, Treasury’s Office of Foreign Assets Control’s (OFAC) designations expose a multi-year scheme that moved more than $2 million to HamasOpen source ↗ Archived copy
- 2POST ON X · @SecScottBessent (Treasury Secretary Scott Bessent)Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to susOpen source ↗ Archived copy
- 3POST ON X · @SecScottBessent (Treasury Secretary Scott Bessent)Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to susOpen source ↗ Archived copy