November 28, 2023

Financial intelligence units from 13 jurisdictions join the Counter Terrorist Financing Taskforce – Israel

On November 27, 2023, the US Financial Crimes Enforcement Network (“FinCEN”) announced that it had joined with the financial intelligence units (“FIUs”) of twelve other jurisdictions to form the Counter Terrorist Financing Taskforce – Israel (“CTFTI”) in order to disrupt the financing of Hamas and other terrorist groups, in response to Hamas’ attacks against Israel on October 7, 2023.  The CTFTI is comprised of FIUs from Australia, Canada, Estonia, France, Germany, Israel, Liechtenstein, Luxembourg, the Netherlands, New Zealand, Switzerland, the UK, the US, and other like-minded FIUs.  Each CTFTI member has committed to taking the following actions to disrupt terrorist financing:

  1. Enhance financial intelligence on terrorist financing-related matters and financial flows and economic activities;
  2. Expedite and increase the sharing of financial intelligence in terrorist financing-related matters and associated financial flows and economic activities;
  3. Discuss FIU best practices, lessons learned, and opportunities for additional actions and partnerships to combat and disrupt terrorist financing activities; and
  4. Strengthen and facilitate working relationships between FIUs and competent public authorities and the private sector addressing this threat.

FinCEN Statement | CTFTI – FIU Task Force Public Statement