OFAC Sanctions Hamas Financing Network Using Sham Charities and Cryptocurrency
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on October 2, 2026 designated a member of Hamas’s military wing, two France-based individuals and two affiliated entities over a financing network that Treasury says moved more than $2 million to Hamas through purported charitable fundraising and cryptocurrency channels.
The action targets Saleem Abdallah Saleem al-Zaq, described by Treasury as a Gaza-based battalion deputy in Hamas’s military wing who oversees a financial network using money services businesses and cryptocurrency wallets. OFAC also designated France-based Faouzi Barika and Amel Oualid, together with Association Baraka and Ensemble C Mieux.
According to Treasury, Barika, Oualid and al-Zaq collected more than $2 million for Hamas between 2020 and 2026, including $1.5 million after October 7, 2023. Treasury said the France-based fundraising operations were presented as humanitarian efforts for civilians in Gaza, while funds were transferred to al-Zaq, including hundreds of thousands of dollars in cryptocurrency.
The designations were made under Executive Order 13224, as amended. OFAC designated al-Zaq for acting or purporting to act for or on behalf of Hamas. Barika was designated for materially assisting, sponsoring or providing support to Hamas, while Oualid was designated for providing support to al-Zaq. The two associated entities were designated based on their ownership or control relationships.
As a result of the action, property and interests in property of the 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. Entities owned 50 percent or more, directly or indirectly, by one or more blocked persons are also blocked under OFAC rules.
Treasury said the sanctions action was coordinated with a broader U.S. government operation addressing Hamas fundraising networks.
Source: U.S. Department of the Treasury, October 2, 2026.
