Published 12:49 IST, August 14th 2020
US 'dismantled' cyber-enabled terror financing campaigns: Justice Department
The United States announced on August 13 that it has foiled the attempt of militant groups to raise funds using cryptocurrency and seized millions of dollars.
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United States anunced on August 13 that it has foiled attempt of militant groups to raise funds using cryptocurrency and seized millions of dollars. cyber-enabled terror financing campaigns involved Hamas’s military wing al-Qassam Briges, al-Qaeda, and Islamic State of Iraq and Levant (ISIS).
US Department of Justice said in a statement that over 300 cryptocurrency accounts, four websites, and four Facebook ps related to enterprise were seized, apart from $2 million. department ded that all three terror finance campaigns relied on sophisticated cyber-tools, including solicitation of cryptocurrency donations from around world.
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“ action demonstrates how different terrorist groups have similarly apted ir terror finance activities to cyber ,” statement re.
militant groups allegedly used cryptocurrency and social media to garner attention and raise funds for ir terror campaigns. Calling it “largest-ever seizure of cryptocurrency” in terrorism context, Justice Department said that funds may in whole or in part be directed to United States Victims of State Sponsored Terrorism Fund after conclusion of case.
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Use of modern techlogy
Attorney General William Barr stated that use of modern techlogy, social media platforms and cryptocurrency by terrorist groups should t surprise anyone. He emphasised that Department of Justice will employ all available resources to protect lives and safety of American public from terrorist groups.
al-Qassam Briges urged for bitcoin donations on its social media p to fund its terror campaign and subsequently moved request to its official websites, alqassam.net, alqassam.ps, and qassam.ps. Al-Qaeda and affiliated terrorist groups operated a bitcoin money-laundering network using Telegram channels and or social media platforms to solicit cryptocurrency donations.
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"Terrorist networks have apted to techlogy, conducting complex financial transactions in digital world, including through cryptocurrencies. IRS-CI special nts in DC cybercrimes unit work diligently to unravel se financial networks," Secretary of Treasury Steven Mnuchin said in a statement.
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12:50 IST, August 14th 2020