OFAC and OFSI Impose Sanctions on Hamas-Aligned Terrorist Fundraising Network

News / OFAC and OFSI Impose Sanctions on Hamas-Aligned Network

On March 27, 2024, In a significant move to curb the financial channels fueling terrorism, the United States and the United Kingdom jointly imposed sanctions on two individuals and three entities accused of raising funds for Hamas. This collaborative effort between the US Treasury’s Office of Foreign Assets Control (OFAC) and the UK’s Office of Financial Sanctions Implementation (OFSI) targets two individuals and three entities directly involved in fundraising activities for Hamas, especially in the aftermath of the October 7 attacks against Israel.

The Entities and Individuals Under Sanctions

The sanctions have been levied against a mix of individuals and entities, including:

  • Gaza Now: Identified as a social media news outlet based in Gaza, Gaza Now has been a vocal supporter of Hamas, using its platform to solicit donations for the group, including through cryptocurrency. The outlet's activities have surged following the October 7 incidents, drawing attention and funds to support Hamas' operations.
  • Mustafa Ayash: The founder and director of Gaza Now, Ayash has been instrumental in the outlet's operations and its fundraising efforts for Hamas. His leadership role in Gaza Now places him at the heart of the sanctioned network.
  • Al-Qureshi Executives and Aakhirah Limited: These two London-based businesses have been implicated in sending funds to Gaza Now and actively promoting the outlet as a partner in fundraising efforts for Hamas. Their financial contributions and promotional activities have directly supported Gaza Now's operations.
  • Aozma Sultana: Serving as the director of both Al-Qureshi Executives and Aakhirah Limited, Sultana has played a pivotal role in the financial network supporting Hamas. Her involvement underscores the international dimensions of the fundraising efforts.

Regarding Gaza Now, both OFAC and OFSI have identified and listed multiple cryptocurrency addresses managed by the media outlet as part of their sanctions. 

The Impact of Sanctions

The sanctions imposed by OFAC and OFSI carry significant implications:

  • All property and interests in property of the designated individuals and entities within the US or under the control of US persons are blocked and must be reported.
  • The sanctions extend to any entities owned, directly or indirectly, by the sanctioned parties, further broadening their impact.
  • US persons and entities are generally prohibited from engaging in transactions involving the designated parties unless specific exemptions or licenses are granted.
  • The sanctions also pose a risk of secondary sanctions for foreign financial institutions that knowingly facilitate significant transactions for the designated parties.

Cryptocurrency and Fundraising Efforts

A notable aspect of this sanctions action is the focus on cryptocurrency transactions. Gaza Now, in particular, has been identified as using cryptocurrency addresses to solicit donations, amassing nearly $4.5 million in digital currency. This method of fundraising highlights the evolving tactics used by terrorist organizations to finance their operations and the challenges faced by international regulators in tracking and stopping these financial flows.

International Cooperation and Future Actions

The sanctions against the Hamas-linked financial network represent the latest in a series of coordinated actions by the United States, the United Kingdom, and other allies, including Australia, to disrupt the financial infrastructure supporting Hamas. Since the October 7 attacks, there have been multiple rounds of sanctions targeting Hamas leaders, financial officials, and now, the broader network facilitating their fundraising efforts.

This international cooperation underscores the commitment of the involved nations to use their financial regulatory tools to combat terrorism and its financing. As terrorist organizations continue to adapt their fundraising strategies, including the use of online platforms and cryptocurrencies, the collaborative efforts of the international community will be crucial in identifying and disrupting these financial networks.


The imposition of sanctions on the Hamas-linked fundraising network marks a critical step in the ongoing efforts to dismantle the financial channels supporting terrorism. By targeting key individuals and entities involved in these activities, the United States and the United Kingdom are sending a clear message about their resolve to combat terrorism and its enablers. As the international community continues to grapple with the challenges of modern terrorism financing, such coordinated actions will remain a vital component of the global strategy to ensure security and peace.

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