On November 27, 2023, the U.S. Financial Crimes Enforcement Network (FinCEN) issued a public statement that it has joined twelve financial intelligence units (FIUs) to strengthen efforts to disrupt international financial flows to Hamas and other terrorist organizations.

What Is FinCEN?

The U.S. Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury. FinCEN’s goal is to safeguard the financial system from illicit use and combat money laundering and promote national security.

Taskforce Jurisdictions

The following 13 jurisdictions jointly issued the public statement:

Commitments

Members of the taskforce have committed to take actions to:

• Enhance financial intelligence on terrorist-financing related matters and associated financial flows and economic activities;

• Expedite and increase sharing of financial intelligence in terrorist financing-related matters and associated financial flows and economic activities;

• Discuss FIU best practices, lessons learned, and opportunities for additional actions and partnerships to combat and disrupt terrorist financing activities; and

• Strengthen and facilitate working relationships between FIUs and competent public authorities and the private sector addressing this threat.

Full Statement

Click to read the full statement: Counter Terrorist Financing Taskforce – Israel (CTFTI) FIU Task Force Public Statement

For assistance, please contact me via my contact page or at elizabeth@elizabethmcmorrowlaw.com.