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The role of cryptocurrencies in financing terrorist organizations
Ali Rogine:
Terrorism financing experts say Hamas’ military wing was an early adopter of cryptocurrency by soliciting Bitcoin donations starting in 2019. Hamas told its supporters the transactions were anonymous, but that all cryptocurrency exchanges are recorded in a public ledger called blockchain, which enabled the ministry. of Justice to confiscate 150 cryptographic accounts associated with the Hamas al-Qassam brigades in 2020.
In April 2023, Hamas announced that it would end its Bitcoin fundraising efforts, but as the Treasury Department’s new sanctions show, terrorist groups, including Hamas, Al-Qaeda, and ISIS, are still finding ways to use cryptocurrency exchanges to collect and launder money and evade detection.
I’m joined now by Ari Redbord. He’s the global head of policy at TRM Labs, a blockchain analytics company that helps protect organizations from crypto-related fraud and financial crime. He’s also a former senior Treasury official and a former federal prosecutor. Ari, thanks so much for joining us.
Ari Redbord, Global Head of Policy, TRM Labs: Hey, thanks so much for having me.