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Treasury targets ISIS financing network

The Treasury Department announced Monday that OFAC has designated seven individuals and one entity pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support to terrorists or acts of terrorism. Specifically, OFAC designated key financial facilitators and conduits for the Islamic State of Iraq and Syria (ISIS) operating in Europe, Africa, and the Middle East. Six individuals, located in Iraq, Turkey, and Belgium, and the entity, an Iraq, Turkey, and Syria-based money services business (MSB), are part of the Rawi Network, a key ISIS financial facilitation group based out of Iraq, which was the target of a joint Treasury-Department of Defense (DOD) action in October 2018. The seventh individual designated yesterday is a Kenya-based female financial facilitator who has played an important role in an ISIS facilitation network in East Africa.

These designations coincide with the eleventh meeting of the Counter-ISIS Finance Group (CIFG), which includes 54 countries and international partners. As a working group of the Global Coalition to Defeat ISIS, the CIFG plays a fundamental role in coordinating efforts to isolate ISIS from the international financial system and eliminate its sources of revenue.

For identity details for the designated parties, see our OFAC Update.

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