In France, five people are believed to have been part of a financing cell that funded ISIL in Syria and may have also provided funds to individuals seeking to travel to join the group.  The cell, made up of three men and two women, transferred funds to the Islamic State via Turkey. One of the […]

The US Department of the Treasury‘s Office of Foreign Assets Control sanctioned Afaq Dubai for the money services business’ involvement in moving funds for ISIL. The Iraq-based MSB moved money for the Islamic State as recently as 2018. The MSB is believed to be part of ISIL’s financial facilitation network that includes other MSBs, hawalas, […]

Israeli security services have disrupted a Hamas financing scheme that used trade to move value into West Bank and Gaza Strip.   In the scheme, a senior Hamas figure used his financial exchange business to contract Gaza businessmen, persuading them to work with him in exchange for financial benefits. Textile merchants appear to have been […]

On 15 May 2018, the US Department of the Treasury‘s Office of Foreign Asset Control announced new sanctions against the governor of the Central Bank of Iran, the chairman and CEO of Al-Bilad Bank (Iraq), and a Hizballah financier. According to OFAC, Valiollah Seif, the governor of the Central Bank of Iran facilitated the movement […]

On 11 May 2018, the US and the UAE announced that they had jointly taken action to disrupt a currency exchange network that facilitated financing for the IRGC-QF. The entities in question used their access to exchanges in the UAE to acquire US dollars that the IRGC-QF used to fund and arm its regional proxy […]