The U.S. Treasury Department blocked a financing network that raised more than $2 million for Hamas through fake charities and cryptocurrency transfers, the agency said today. The action designates a Gaza-based Hamas military official, two France-based operatives, and two organizations tied to the scheme.
The network collected more than $2 million between 2020 and 2026, including $1.5 million raised after the October 7, 2023 attack on Israel, according to the Treasury. The money was moved through organizations ostensibly raising funds for Gaza humanitarian aid, but instead funneled proceeds directly to Hamas.
At the center of the scheme was Saleem Abdallah Saleem al-Zaq, a Gaza-based battalion deputy in Hamas's military wing, who oversaw financial operations using various money services and cryptocurrency wallets. France-based operatives Faouzi Barika and Amel Oualid ran two organizations—Association Baraka and Ensemble C Mieux—that solicited public donations and sent hundreds of thousands of dollars in cryptocurrency to al-Zaq for transfer to Hamas. Al-Zaq promoted their fundraising efforts on his social media accounts.
The action is part of a broader, coordinated operation led by the Federal Bureau of Investigation to dismantle Hamas fundraising ventures, including those operating inside the United States, the Treasury said. Local law enforcement including the New York Police Department is involved in the effort.
Treasury Secretary Scott Bessent said: "Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to sustain their operations."
The designations block all property and interests in the United States belonging to the individuals and entities, and generally prohibit U.S. persons from conducting transactions with them.