Anti-Financial Crime & Financial Crime Compliance
Regulatory Intelligence Leadership | Insight | Network

Crypto, News

INSIGHT: New crypto currency that has become favourite of terror organisations comes under scrutiny in Israel-Hamas war

TERROR: Today's FATF report finds that 69% of jurisdictions assessed by the FATF and the Global Network exhibited major or structural deficiencies in effectively investigating, prosecuting and convicting TF cases. PHOTO: Image grab of footage recovered from bodies of Hamas fighters bodycam show their infiltration into southern Israel from Gaza on Oct 7, 2023.

By Tom Wilson and Elizabeth Howcroft

A new front has emerged in Israel’s fight against the funding of Iran-backed militant groups from Hamas to Hezbollah: A fast-growing crypto network called Tron.

Quicker and cheaper than its larger rival Bitcoin, Tron has overtaken its rival as a platform for crypto transfers associated with groups designated as terror organizations by Israel, the United States and other countries, according to interviews with seven financial crime experts and blockchain investigations specialists.

AML Intelligence
Subscribe now to have unlimited access

With our membership subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!