FinCEN Alerts on Crypto Transactions Linked with Hamas

FinCEN Warns About Suspicious Crypto Transactions Linked to Hamas

Financial institutions were alerted by FinCEN regarding suspicious financial activity linked to Hamas, the militant group responsible for the October 7 attack in Israel. The alert gave details about fundraising campaigns involving virtual currency and fictitious charities. They also advised on keeping an eye on transactions with entities in jurisdictions associated with Hamas, those on the Office of Foreign Assets Control's list, and those seeking crypto donations on social media. US lawmakers also expressed concerns about crypto's role in illegal activities following the attack. After Russia's invasion of Ukraine, FinCEN issued a warning previously regarding Russian entities attempting to evade sanctions using crypto in March 2022.