Targeting Hamas Crypto Fundraising
US Treasury Sanctions Hamas Network Over $2 Million in Sham Charity and Crypto
Anonymous
Key Points
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Treasury identified the individuals as Faouzi Barika and Amel Oualid, and the Gaza-based operative as Saleem Abdallah Saleem al-Zaq. Barika co-founded Association Baraka with al-Zaq, while Oualid founded Ensemble C Mieux; Treasury accused both organizations of redirecting donations intended for civilians to Hamas.
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Treasury said al-Zaq oversaw a financial network that used money-services businesses and cryptocurrency wallets to move substantial sums to Hamas’s Al-Qassam Brigades.
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The sanctions were part of a broader FBI-led operation targeting Hamas fundraising ventures, including operations inside the United States.
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The action follows earlier U.S. measures against Hamas-linked fundraising and financial networks; in November 2024, Washington sanctioned six Hamas leaders over their roles in facilitating weapons and cash transfers.
The U.S. Treasury sanctioned a Hamas military operative in Gaza and two France-based fundraisers on allegations they routed over $2 million to the militant group through fake charities and cryptocurrency between 2020 and 2026, Mirage News reported. About $1.5 million was raised after October 7, 2023, with funds allegedly sent via money transfers and digital wallets to Hamas's military wing.
The action freezes any U.S.-held assets belonging to the targets and bars Americans from doing business with them, Voice of Emirates said. The Treasury coordinated the sanctions with the State Department and FBI as part of a broader push to disrupt Hamas financing while protecting legitimate humanitarian aid to civilians.
Sham Charities and Cryptocurrency Hide the Money Trail
The Treasury identified the two French fundraisers as Faouzi Barika and Amel Oualid, i24news reported. Barika co-founded Association Baraka with the Gaza operative, Saleem Abdallah Saleem al-Zaq, while Oualid founded Ensemble C Mieux. Both organizations used fake humanitarian appeals to collect donations that were then redirected to Hamas instead of reaching civilians in need.
Al-Zaq, a deputy battalion commander in Hamas's military wing, ran the financial network using money-services businesses and cryptocurrency wallets to move substantial sums, Israel National News reported. The scheme allowed the group to hide transfers from U.S. detection for years while funneling resources directly to Hamas's Al-Qassam Brigades.
FBI Operation Targets Wider Hamas Fundraising Scheme
The sanctions announced by Treasury are part of a larger FBI-led operation dismantling multiple Hamas fundraising networks, Regtech Times reported. The Justice Department has announced coordinated arrests and charges against operatives allegedly involved in collecting and transferring funds to the militant group from inside the United States.
This enforcement action reflects intensifying U.S. efforts to choke off financial lifelines to Hamas across continents. By targeting both the operatives moving money and the organizations collecting it, authorities aim to dismantle the infrastructure enabling terrorism financing.
Part of Escalating U.S. Financial Pressure on Hamas
The Treasury has intensified designations against Hamas financial networks in recent months. In November 2024, Washington sanctioned six Hamas leaders over their roles in facilitating weapons and cash transfers, signaling a sustained commitment to blocking the group's access to global financial systems.
These measures aim to degrade Hamas's operational capacity without disrupting humanitarian assistance to Palestinian civilians. The Treasury continues identifying money laundering schemes and cryptocurrency channels used to funnel resources to designated terrorist organizations.
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