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The U.S. Implemented New Sanctions to Disrupt Hamas’ Funding

New sanctions 

It was reported last week that the U.S. had considered new sanctions on Iran. Today, the U.S. has implemented new sanctions to disrupt the funding of the Palestinian militant group Hamas. The U.S. Deputy Treasury Secretary Wally Adeyemo announced these sanctions in his remarks at the Royal United Services Institute in London, the United Kingdom.

In Adeyemo’s remarks, he says, “I’m pleased to share that today, the United States is announcing new sanctions targeted at Hamas financing and meeting with our U.K. colleagues today to expand our efforts.” (Adeyemo). As new sanctions are released, organizations will be required to run updated sanctions list checks.

The goal

Adeyemo said, “Our goal is to cut off those financial resources while ensuring humanitarian aid can continue to flow to the Palestinian people in Gaza” (Adeyemo). 

To achieve this goal, there are three initiatives: 

  1. Increase Financial Sanctions.
  2. Collaborate with global partners and allies to enhance information sharing and combat terrorist financing.
  3. Involve stakeholders, such as financial institutions, to prevent illegal financial flows to these groups while allowing lawful humanitarian aid.

According to U.S. Deputy Treasury Secretary Adeyemo, in total, the United States has focused on nearly 1,000 individuals and entities associated with terrorism and the financing of terrorism by the Iranian government, along with its affiliated groups, including Hamas, Hizballah, and other terrorist organizations aligned with Iran in the region.

In the remark given by Adeyemo, he says, “Our expectation is that financial institutions and digital asset companies and others in the virtual currency ecosystem will take steps to prevent terrorists from being able to access resources. If they do not act to prevent illicit financial flows, the United States and our partners will” (Adeyemo).

How Truth Technologies can help with Sanction List Checks: 

Sanction List Checks are essential for legal compliance, global security, mitigating risk, and upholding ethical business practices. It plays a crucial role in preventing the misuse of financial resources and contributes to a more secure and stable world.

Truth Technologies ‘provides software solutions that help organizations adhere to sanctions regulations and requirements by automating and streamlining various compliance processes. Contact us today for a free demo and see how we can help identify at-risk countries and which organizations or individuals may be associated with those countries.

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