All Israel

Special international task force established to fight financing of Hamas terror group

Team is led by financial intelligence units of Israel, US, the Netherlands and Germany

Hamas money confiscated by the IDF (Photo: Israeli Defense Ministry Spokesperson)

A special international task force was recently established to fight against the financing of terrorism by the Hamas terror organization following its surprise invasion and brutal attack on residents of Israel's southern border communities on Oct. 7,

On Sunday, the CTFTI task force, jointly led by the financial intelligence units of Germany, Israel, the Netherlands, and the United States, published its goals and activities to thwart the flow of Hamas-linked funds and to support the international fight against terrorist financing by coordinating financial intelligence and information sharing.

The team is jointly led by the financial intelligence units of Germany, Israel, the Netherlands, and the U.S., and was established in cooperation with other financial intelligence units of Australia, Canada, Estonia, France, Liechtenstein, Luxembourg, New Zealand, Switzerland, Great Britain, as well as others.

In order to effectively achieve its goal, task force members will increase their intelligence detection capabilities with regard to terrorist funding and reviewing related financial flows and economic activities.

This will require improving communication between the task force’s partner authorities and sharing investigative tactics and information on terrorist financing methods. In this way, the team will be able to improve the ability of the partner nations to combat and prevent the financing of terror groups.

The team will also improve and manage the relationship between financial intelligence units, authorities and the private sector, which is of great significance, especially in identifying and dealing with how terrorists use the global financial system.

Close cooperation with financial institutions and technology companies, as much as possible within the framework, will be critical to identifying and stopping the money paths of terrorists, according the statement.

Amotz Shapira is a legal affairs correspondent for KAN 11.

Popular Articles
All Israel
Receive latest news & updates from All Israel
    A message from All Israel News
    Help us educate Christians on a daily basis about what is happening in Israel & the Middle East and why it matters.
    For as little as $5, you can support ALL ISRAEL NEWS, a non-profit media organization that is supported by readers like you.
    Donate to ALL ISRAEL NEWS
    Latest Stories