Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Hamas’ cryptocurrency financial network subject to joint sanctions by the US, UK and Australia
ADOPTION NEWS

Hamas’ cryptocurrency financial network subject to joint sanctions by the US, UK and Australia

By Crypto FlexsJanuary 23, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Hamas’ cryptocurrency financial network subject to joint sanctions by the US, UK and Australia
Share
Facebook Twitter LinkedIn Pinterest Email

To curb terrorist financing, the US, UK and Australia have imposed a fifth round of sanctions against Hamas, specifically targeting its virtual currency transfer network. This measure, announced on January 22, 2024, represents a joint effort by these countries to disrupt financial mechanisms that support terrorist activities, especially those facilitated through cryptocurrencies.

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) led the initiative, focusing on a network linked to Hamas in the Gaza Strip, including its owners and associates. These networks have played a key role in transferring funds, including cryptocurrency transfers, from the Islamic Revolutionary Guard Corps-Qud Forces (IRGC-QF) to Hamas in Gaza and Palestinian Islamic Jihad (PIJ). The sanctions are part of a broader strategy that includes previous joint actions with Britain targeting Hamas leaders and financiers, as well as action by the United States targeting sources of support and funding for Hamas.

The sanctions specifically target the Shamlakh network, with key individuals such as Gaza-based financial facilitator Zuhair Shamlakh playing a key role. Shamlakh has been involved in transferring significant funds from Iran to Hamas, using his company for these transactions. This financial activity has been ongoing since at least 2017, with millions of dollars transferred to support terrorist groups in Gaza.

The UK’s sanctions are consistent with US sanctions targeting key figures in the Hamas and PIJ financial networks. British Foreign Secretary David Cameron emphasized the message that those who finance terrorist activities have nowhere to hide. The sanctions include asset freezes and travel bans aimed at disrupting the flow of funds from Iran to these terrorist groups. The UK is committed to working with international partners to address Iran’s destabilizing activities in the Middle East, including its support for armed groups.

In addition to the United States and the United Kingdom, Australia also joined in imposing sanctions on key Hamas officials and enablers. This coordinated international effort reflects a unified stance against terrorist financing and the use of cryptocurrencies for such purposes.

These sanctions are significant because they highlight the increasing use of digital currencies by terrorist groups to finance their operations. The underground financial networks created by these groups use legitimate companies to conceal terrorist financing flows. By targeting these networks, the United States, United Kingdom, and Australia aim to undermine the financial infrastructure that supports Hamas’ terrorist activities.

The sanctions follow previous sanctions imposed after Hamas attacked Israel on October 7. This joint effort by the US, UK and Australia demonstrates their commitment to disrupting the financial networks of terrorist groups and preventing them from accessing funds through modern financial mechanisms, including cryptocurrencies.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025
Add A Comment

Comments are closed.

Recent Posts

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025

TEZOS promotes scaling efforts by activating data soluble layers.

June 7, 2025

It shows a graphite network. Tesla is nothing without trust because Tesla’s Tesla spent $ 150 billion after Musk and Trump’s fallout.

June 7, 2025

The merchant warns that Bitcoin is in ‘cancer price behavior’.

June 7, 2025

Is Bitcoin Price Rally $ 150K by the end of the year?

June 7, 2025

How does it affect Bitcoin?

June 7, 2025

Gala Games introduces a step -by -step approach to founder node staking.

June 7, 2025

AB starts in binance

June 7, 2025

ETF publisher’s latest warning -SEC’s approval process ‘Innovation, AIDS GIANTS’

June 7, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

NFT artists reproduce ‘password tax nightmares’ with new songs.

June 7, 2025

NVIDIA’s GB200 NVL72 and Dynamo improve MoE model performance

June 7, 2025

Despite market volatility

June 7, 2025
Most Popular

Growing bipartisan support for key U.S. encryption issues

November 29, 2024

A comprehensive guide to getting started with Sui (SUI)

August 17, 2024

SunDok’s stock price has soared 700%. What’s causing the runaway and can it continue?

August 26, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.