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A massive network of terror finance busted

A massive network of terror finance was busted and about 25 targets were identified. This was announced by Terrorist Financing Targeting Centre (TFTC) on October 30.

“The coordinated action “represents the largest-ever tranche of targets designated by Gulf countries as part of the TFTC partnership”, said a statement released by the US Department of the Treasury

According to the TFTC, the 25 targets provide financial support to paramilitary proxy actors that utilize violent tactics and spur heightened conflict throughout the Middle East and North Africa region.

The targets comprise a vast network of businesses that employ shell companies conducting a multi billion-dollar system of corporate dealings across the Middle East and Europe.

These entities and individuals were designated as Specially Designated Global Terrorists (SDGTs) by the US Office of Foreign Assets Control(OFAC) in 2018.


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