Posts Tagged ‘financing’
Mother and daughter jailed for funding the Islamic State group
A mother and daughter have been jailed for funding terrorism in Syria. Stella Oyella, 53, and Vanessa Atim, 32, both of Newham, east London, sent hundreds of pounds to a relative who had joined the Islamic State (IS) group. They were found guilty of entering into an arrangement to fund Joseph Ogaba between March and…
Read MoreOver 60% of illegal crypto activity is tied to sanctioned groups or terrorist organizations, report finds
Sanctioned entities, like those linked to North Korean hacking groups and U.S.-designated terrorist organizations such as Lebanon’s Hezbollah, continue to rely on cryptocurrency for fundraising, according to a new report from Chainalysis. The American blockchain analysis firm’s “2024 Crypto Crime Report” found that $24.2 billion of illicit cryptocurrency was transferred in 2023, based on already…
Read MoreSan Antonio businessman gets 13-year term for aiding terrorism
A San Antonio businessman was sentenced Monday to more than 13 years in federal prison for three terrorism-related charges. Imad Eddin Wadi, 66, was caught in an three-year operation by the FBI in which he tried to close a “business deal” that federal prosecutors say would have helped fund terrorist organizations in Syria aligned with…
Read MoreUAE dropped from financial crime watch list in win for nation
The United Arab Emirates, home to the financial hub of Dubai, has been dropped from a global watchdog’s list of countries at risk of illicit money flows, a win for the nation that could bolster its international standing. The Financial Action Task Force (FATF), a body that groups countries from the United States to China…
Read MoreJustice Department Announces Terrorism and Sanctions-Evasion Charges and Seizures Linked to Illicit, Billion-Dollar Global Oil Trafficking Network That Finances Iran’s Islamic Revolutionary Guard Corps and Its Malign Activities
The Justice Department today announced the unsealing of three federal cases, across two U.S. Attorneys’ Offices, as the most recent in a series of efforts to combat the illicit trafficking of Iranian oil that funds Iran’s Islamic Revolutionary Guard Corps (IRGC), a designated Foreign Terrorist Organization (FTO), and its Qods Force (IRGC-QF), Iran’s primary mechanism…
Read MoreNYC woman convicted of using bitcoins to fund terrorism in Syria
Victoria Jacobs could spend up to 25 years in prison. The 44-year-old woman was found guilty of funneling funds to U.S.-listed terrorist groups in Syria, using cryptocurrency to evade detection. A Manhattan jury convicted Jacobs of three felony counts of providing support for an act of terrorism, as well as conspiracy, money laundering and criminal…
Read MoreCrypto exchange Binance sued by Hamas hostages, Oct. 7 victims’ families for allegedly ‘facilitating terrorism’
An American woman freed after being held hostage in Gaza and the families of two men killed in the Oct. 7 attack in Israel sued Binance, the leading cryptocurrency exchange, which they accused of providing a funding mechanism for Hamas. The lawsuit, filed in Manhattan federal court Thursday, also named Iran and Syria and is…
Read MoreLombard man pleads guilty to trafficking fentanyl and providing support to ISIS
A suburban man pleaded guilty Wednesday to trafficking drugs and attempting to provide materials to the Islamic State of Iraq in 2019. Jason Brown, 41, was charged with one count of attempting to provide material support to ISIS, one count of distributing fentanyl and one count of possessing a firearm in furtherance of a drug…
Read MoreU.S. presses sceptical Turkey to curb Hamas fundraising
The U.S. Treasury’s top terrorism financing official said on Thursday he had discussed with Turkish government officials his deep concerns about Palestinian militant group Hamas raising funds in Turkey and potentially breaking local laws. Turkey is “prominent” in Hamas fundraising schemes and the group is likely to take advantage of that as it seeks more…
Read MoreUS Asks Gulf States to Help Shut Down Hamas Fundraising
In an emergency session of the Terrorist Financing Targeting Center (TFTC) this week, the U.S. called on allies in the Middle East to increase efforts to cut off outside funding for Hamas, the organization that perpetrated a massive attack on Israeli civilians on October 7. The Treasury Department called on the member countries of the…
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