Communiqué AML/CTF

The CSSF wishes to inform the public that we relay the following recent message from the Israeli Ministry of Justice, and asks the supervised entities to exercise particular vigilance in relation to the transfers referred to in the message.

The Israel Money Laundering and Terror Financing Prohibition Authority (IMPA) calls on the financial sector (IMPA) and the public to increase their vigilance towards terrorist financing attempts in light of the ongoing war and state of emergency.

Appropriate preparation and maximum vigilance are required of the financial sector in general and reporting entities in particular. Special attention must be paid towards financial activity whose purpose is to finance and support terrorist activity and to assist terrorist organizations, particularly #Hamas and the #PalestinianIslamicJihad.

Based on our experience, activities of this kind will often appear under the guise of fundraising campaigns for humanitarian aid and be led by various associations and charities or private initiatives. Such campaigns will be published in various media, on crowdfunding sites, instant messaging applications and on the various social media networks, using a variety of channels and avenues for transferring money, including bank and electronic transfers, credit cards, advanced payment methods, gift cards and cryptocurrency. These publications are mostly made in Arabic and English, and may refer to the Gaza Strip, to the fighting in Gaza, and sometimes include the involvement of declared parties or feature symbols of the Hamas or the Palestinian Islamic Jihad organization. Examples and evidence of this kind of activity are already occurring and are expected to increase as the war continues.

Since the beginning of the Iron Swords war, IMPA has been in continuous contact with its partners and FIUs in other countries and are working jointly with its partners in the law enforcement and security agencies to freeze/block accounts and other financial activities for which there is an indication that they are being used to raise funds for the terrorist organizations. The reporting entities, by virtue of their role as the gatekeepers of the financial system in the State of Israel, play a vital role in this struggle.

Therefore, IMPA wishes to increase vigilance and devote all the necessary resources towards monitoring, locating and reporting of potential terror support and terror financing activities to IMPA in an effective and immediate manner. This includes any information on international and cross-border activity with an emphasis on the factors and/or platforms involved in the funding as well as any activity for which there is an indication that it is related to Hamas #Hamas and the Palestinian Islamic Jihad #PalestinianIslamicJihad.

The entire message can be read here.