The U.S. Treasury Department imposed sanctions on Monday on a Hamas fundraising network that raked in millions of dollars for the terrorist group.
The sanctioned individuals and entities include a Gaza-based, Hamas-run bank and a Yemeni national living in Turkey, who runs a “sham charity” and an international network of businesses to fund terrorism.
“As we mark one year since Hamas’s brutal terrorist attack, Treasury will continue relentlessly degrading the ability of Hamas and other destabilizing Iranian proxies to finance their operations and carry out additional violent acts,” stated Janet Yellen, the Treasury secretary.
In its statement, the department noted that as of early 2024, Hamas continued to raise up to $10 million monthly through sham or front charities with names like “the Charity Association of Solidarity with the Palestinian People” and “Union of Good.”
The Treasury Department’s statement notes that Hamas’s investment portfolio once included more than $500 million in assets, “enabling Hamas’s leaders to live in luxury outside the Palestinian territories.”
Monday’s sanctions are the eighth such round of designations that the Biden administration has imposed on Hamas and its financial backers since Oct. 7, 2023.
It follows the U.S. Department of Justice’s announcement in September that it filed criminal charges against Hamas leaders, including Yahya Sinwar, one of the architects of the Oct. 7 attacks and the terror group’s chairman.
