On November 27, 2023, FinCEN and twelve other financial intelligence units (FIUs) issued a public statement recognizing the formation of a task force of like-minded FIUs who aim to strengthen efforts to disrupt international financial flows to Hamas and other terrorist organizations. Counter Terrorist Financing Taskforce – Israel (CTFTI) was established immediately following the brutal terror attacks by Hamas against Israel on October 7, 2023.
The task force is composed of FIUS of Australia, Canada, Estonia, France, Germany, Israel, Liechtenstein, Luxembourg, the Netherlands, New Zealand, Switzerland, the United Kingdom, the United States, and other like-minded FIUs.
Through the public statement, the Task Force Members expressed the importance of the private sector in achieving its goals, particularly in identifying and mitigating terrorists’ use of the global financial system. The Task Force said that they will be in close coordination with financial institutions and technology companies to identify and stop terrorist funding channels.
Read the Task Force’s public statement here.