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