The United States along with some Middle Eastern nations are stepping up efforts to target a “secret” Hamas investment portfolio government officials believe to be worth up to $1 billion.
To target the Hamas investment portfolio, a US official said Tuesday the Treasury Department is working with members of the Gulf Cooperation Council: Saudi Arabia, Qatar, Kuwait, Oman, Bahrain and the United Arab Emirates.
Following the Hamas terror attacks on Israel, US and Saudi officials convened an emergency meeting on Tuesday in Riyadh of the Terrorist Financing Targeting Center, which includes the United States and the GCC nations. The meeting was originally scheduled to take place in November.
The US official said there has been a redoubling of efforts since Hamas’ October 7 attack on Israel to use the TFTC, which was created in 2017, to go after Hamas, Hezbollah and other Iranian-aligned militant groups, including by sharing relevant, timely and actionable information.
Palestinian fighters of the al-Qassam Brigades, the armed wing of the Hamas movement, take part in a military parade to mark the anniversary of the 2014 war with Israel, near the border in the central Gaza Strip on July 19, 2023.
Mahmud Hams/AFP/Getty Images
‘They’re opportunistic and adaptive’: How Hamas is using cryptocurrency to raise funds
Treasury has said the global portfolio of investments includes companies operating “under the guise of legitimate businesses” in Sudan, Algeria, Turkey, the United Arab Emirates and other nations.
“We cannot tolerate a world in which Hamas and other terrorist organizations’ fundraisers live and operate with impunity, abusing the financial system, to sustain their terror.” Brian Nelson, Treasury’s under secretary for terrorism and financial intelligence, said during prepared remarks at the emergency TFTC meeting.
Hamas’ armed wing, the Izz ad-Din al-Qassam Brigades destroy an Israeli forces’ tank near Gaza City, Gaza on October 07.
Hani Alshaer/Anadolu Agency/Getty Images
Nelson urged the Gulf nations to share more information on the parts of the Hamas financial ecosystem “vulnerable to disruption” and called on member countries to take action.
“From our perspective, not acting against Hamas and its terrorism is a disservice to the Palestinian people,” Nelson said. “From a financial standpoint, we can clearly see that Hamas has exacerbated economic hardships for decades in the Gaza strip by diverting humanitarian assistance to support its campaign of terror, and we must publicly condemn these actions.”
In another step aimed at disrupting Hamas funding, Deputy Treasury Secretary Wally Adeyemo plans to travel to Europe on Friday, the Treasury Department announced.
Adeyemo plans to work with partners in Europe to “deny Hamas and other terrorist organizations the ability to raise and use funds.”
Last week, Treasury’s Financial Crimes Enforcement Network laid out new rules taking aim at the ability of Hamas and other terror groups to use cryptocurrencies for fundraising.FinCEN proposed designating foreign cryptocurrency “mixers” – platforms that make digital funds harder to track – as money laundering and national security risks.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
