FinCEN Issues Alert to Banks on Hamas Crypto Fundraising
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FinCEN issued an alert for financial institutions to identify suspicious activity related to funding Hamas terrorist group.
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The alert warns of fundraising campaigns involving crypto and fictitious charities by Hamas to fund their activities.
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Financial institutions are advised to watch for transactions with entities tied to Hamas or already sanctioned.
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The alert follows call by over 100 US lawmakers to curtail illicit crypto activity after Hamas attack on Israel.
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It's the second such warning from FinCEN this year after one in March about Russian entities evading sanctions via crypto.