Twelve international Financial Intelligence Units (FIUs) have joined forces to establish the "Counter Terrorist Financing Taskforce – Israel (CTFTI)" with the specific aim of targeting Hamas. This initiative comes in response to the brutal terror attacks carried out by Hamas against Israel on October 7. The task force, led by four Co-Chairs from Germany, Israel, the Netherlands, and the United States, aims to strengthen efforts to disrupt international money flows associated with Hamas and enhance global anti-terrorism endeavors through coordinated financial intelligence and information sharing.
The Financial Crimes Enforcement Network (FinCEN) of the United States, in a statement, emphasized the crucial role of the private sector in identifying and mitigating terrorists' use of the global financial system. The CTFTI has committed to close coordination with financial institutions and technology companies to identify and halt terrorist funding channels to the maximum extent allowed by respective authorities.
The participating countries include Australia, Canada, Estonia, France, Germany, Israel, Liechtenstein, Luxembourg, the Netherlands, New Zealand, Switzerland, the United Kingdom, and the United States. The task force's objectives include enhancing financial intelligence on terrorist-financing-related matters, expediting the sharing of financial intelligence, discussing best practices, lessons learned, and opportunities for additional actions, and strengthening working relationships between FIUs and competent public authorities and the private sector.
The October 7 terror attacks on Israel served as a stark reminder of the core mission of FIUs: to detect, disrupt, and prevent the financing of terrorism. The task force members are committed to coordinating closely with domestic law enforcement, prosecutors, and other competent government authorities within their respective legal authorities to achieve the goals of the task force.
By fLEXI tEAM