U.S. Treasury Warns Banks to Watch for Hamas Crypto Fundraising
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The U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued an alert warning financial institutions to watch for Hamas fundraising efforts involving crypto.
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FinCEN said Hamas uses various means to raise funds, including virtual currencies and sham charities.
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The alert comes after Israeli law enforcement shut down over 100 Binance accounts and seized crypto to cut off Hamas funding.
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Hamas previously asked supporters to donate Bitcoin to evade U.S. sanctions.
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FinCEN urged financial institutions to report any suspicious transactions potentially tied to Hamas fundraising.