FinCEN issues alert on West Bank violence

The Financial Crimes Enforcement Network today issued an alert for financial institutions related to the financing of what it said was “Israeli extremist settler violence against Palestinians in the West Bank.” The alert provides select red flags to assist financial institutions in identifying and reporting suspicious activity that finances such violence, the agency said.

Red flags cited in the alert include payments to organizations or groups that have been previously linked to violent extremist groups, information that indicates support for violent groups, and purchases of tactical military gear for resale overseas and destined for non-government Israeli end-users in the West Bank.

The alert was issued after President Biden signed an executive order creating a new sanctions program targeting such violence, with four persons added to OFAC’s Specially Designated Nationals and Blocked Persons List under the new program.