{"id":178227,"date":"2023-10-21T01:38:56","date_gmt":"2023-10-20T20:08:56","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=178227"},"modified":"2023-10-21T01:38:56","modified_gmt":"2023-10-20T20:08:56","slug":"fincen-issues-alert-regarding-crypto-transactions-connected-to-hamas-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/fincen-issues-alert-regarding-crypto-transactions-connected-to-hamas-crypto-news\/","title":{"rendered":"FinCEN issues alert regarding crypto transactions connected to Hamas – Crypto News"},"content":{"rendered":"
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The United States Treasury Department\u2019s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify \u201csuspicious activity\u201d related to funding terrorist groups.<\/p>\n

In an Oct. 20 notice, FinCEN said<\/a> the terrorist organization Hamas \u2014 behind the Oct. 7 attack on Israel \u2014 employed \u201cfundraising campaigns involving virtual currency and fictitious charities raising both fiat and virtual currency\u201d to fund its activities. The government department warned virtual asset service providers and other institutions to \u201cidentify and report suspicious transactions\u201d potentially connected to Hamas. <\/p>\n

Specifically, FinCEN cautioned financial institutions to be wary of clients who have conducted transactions with a business in a jurisdiction associated with Hamas, entities already on the Office of Foreign Assets Control\u2019s list of Specially Designated Nationals, and those that solicit crypto donations on social media. The announcement came less than 24 hours after the government department proposed designating crypto mixing<\/a> as an area of \u201cprimary money laundering concern\u201d related to terrorism.<\/p>\n

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Today, Treasury\u2019s Financial Crimes Enforcement Network announced a proposed rule to increase transparency around international\u00a0Convertible Virtual Currency Mixing\u00a0to combat its use by malicious actors including Hamas, Palestinian Islamic Jihad, & the DPRK. https:\/\/t.co\/1atRjZnjwo<\/a><\/p>\n

\u2014 Treasury Department (@USTreasury) October 19, 2023<\/a><\/p><\/blockquote>\n

Related: <\/em><\/strong>Crypto Aid Israel raises $185K in 10 days, distributes aid to 4 organizations<\/em><\/strong><\/a><\/p>\n

FinCEN\u2019s alert followed concerns about crypto voiced by U.S. lawmakers in the wake of Hamas\u2019 attack on Israel. On Oct. 17, more than 100 members of Congress called on the administration<\/a> of U.S. President Joe Biden to \u201cswiftly and categorically act to meaningfully curtail illicit crypto activity.\u201d U.S. Treasury officials also added a Gaza-based crypto operator<\/a> allegedly tied to Hamas to its list of sanctioned entities.<\/p>\n

In March 2022, FinCEN issued a similar warning<\/a> to financial institutions over Russian entities\u2019 attempts to evade sanctions using crypto. The notice came days after the Russian military invaded Ukraine in February 2022 \u2014 an ongoing conflict that continues to have ramifications for the rest of the world.<\/p>\n

Magazine: <\/em><\/strong>US enforcement agencies are turning up the heat on crypto-related crime<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The United States Treasury Department\u2019s Financial Crimes Enforcement Network, or FinCEN, issued an alert for financial institutions as part of efforts to identify \u201csuspicious activity\u201d related to funding terrorist groups. In an Oct. 20 notice, FinCEN said the terrorist organization Hamas \u2014 behind the Oct. 7 attack on Israel \u2014 employed \u201cfundraising campaigns involving virtual […]<\/p>\n","protected":false},"author":2,"featured_media":178228,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-178227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=178227"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178227\/revisions"}],"predecessor-version":[{"id":178230,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/178227\/revisions\/178230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/178228"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=178227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=178227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=178227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}