OFAC Sanctions Hamas Financing Network Using Sham Charities and Cryptocurrency
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned members of a Hamas financing network that Treasury says used ostensibly charitable fundraising and cryptocurrency transfers to support the group.
The October 2, 2026 action designated one member of Hamas’s military wing, two individuals in France and two associated entities. According to Treasury, the network collected funds under the appearance of humanitarian assistance for Palestinians and transferred more than $2 million to Hamas between 2020 and 2026.
Treasury said the network used fundraising campaigns and cryptocurrency as part of its financial activity. The designations were imposed under U.S. counterterrorism sanctions authorities and are separate from criminal proceedings announced by the U.S. Department of Justice concerning alleged Hamas financing activity.
As a result of the OFAC action, property and interests in property of designated persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC, subject to applicable rules. Entities owned 50 percent or more, directly or indirectly, by one or more blocked persons are also generally blocked.
Source: U.S. Department of the Treasury, Office of Foreign Assets Control, October 2, 2026.
