U.S. Treasury targets $2 million Hamas fundraising network spanning Europe and Gaza
The U.S. Treasury sanctioned a Hamas military-wing member, two France-based fundraisers and two charities over an alleged six-year operation that raised more than $2 million through purported humanitarian donations. Treasury said the network transferred hundreds of thousands of dollars in cryptocurrency to a Hamas commander, but did not claim all funds were crypto. More than $1.5 million was reportedly raised after Hamas’s October 7, 2023 attack. The sanctions freeze designated parties’ property under U.S. jurisdiction, prohibit most U.S. dealings with them and may expose foreign financial institutions to secondary sanctions. The action highlights authorities’ focus on crypto as one part of broader militant financing networks, which Treasury says still rely mainly on conventional finance.
