Regulatory Alerts2023-10-20 | FIN-2023-Alert006Added
FinCEN Alert to Financial Institutions to Counter Financing to Hamas and its Terrorist Activities (FIN-2023-Alert006)
FinCEN requests that financial institutions reference alert FIN-2023-Alert006 in Suspicious Activity Report (SAR) field 2 and the narrative by including the key term "FIN-2023-TFHAMAS" and selecting SAR field 33(a) for terrorist financing. The alert provides red flag indicators to help detect suspicious transactions associated with Hamas, such as dealings with OFAC-designated entities, shell corporations with Iran nexus, or charitable organizations soliciting donations without providing services. Financial institutions, including virtual asset service providers, are urged to identify and report suspicious activity related to Hamas's financing network as quickly as possible.