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

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.