Regulatory Alerts2024-02-01 | FIN-2024-Alert001Added
FinCEN Alert on Israeli Extremist Settler Violence Against Palestinians in the West Bank (FIN-2024-Alert001)
The Financial Crimes Enforcement Network (FinCEN) issues an alert to financial institutions providing red flag indicators to identify and report suspicious activity financing Israeli extremist settler violence against Palestinians in the West Bank. The alert lists specific indicators, including payments to organizations linked to violent extremist groups, transaction memos supporting such groups, rapid fund movements linked to non-profit organizations advocating for extremists, and purchases of tactical military gear for non-government end-users in the West Bank. Financial institutions are requested to reference this alert in Suspicious Activity Report (SAR) field 2 and the narrative by including the key term “FIN-2024-WBEXTREMISM”. The alert notes that the U.S. Department of State and OFAC have issued related visa restrictions and executive orders authorizing sanctions on persons undermining peace and security in the West Bank.