Reports from financial regulatory bodies or official announcements from the institution

U.S. Treasury Sanctions Hamas's European Fundraising Network, Including Sham Charity and Gaza Bank

Oct 7, 2024, 04:13 PM

The United States Treasury Department has issued new sanctions targeting Hamas fundraising networks on the anniversary of the October 7 massacre, as shown on the Treasury Department website on Monday. The Office of Foreign Assets Control (OFAC) designated three individuals, one sham charity, and one Hamas-controlled financial institution in Gaza. These entities are prominent international financial supporters of Hamas, facilitating money laundering and funding the organization's activities. The sanctions also extend to Hamas fundraising networks in Europe, aiming to curb methods of laundering money through sham charities and other financial means. This recent effort marks a continuation of an aggressive crackdown by U.S. authorities over the past year to limit Hamas's ability to finance itself.