ATbar Identifying Money Transfers and Terror Finance Infrastructure

Identifying Money Transfers and Terror Finance Infrastructure

20/01/2020 | by Multiple Authors  

Authors: Dr. Eitan Azani, Dr. Michael Barak, Edan Landau, Nadine Liv

Co-Authors: Cobwebs Tech

Preamble

1. While monitoring Bitcoin address 1LaNXgq2ctDEa4fTha6PTo8sucqzieQctq, an irregular increase in the scope of activity has been identified compared to a previous review. A deeper review showed that the same address served a seemingly legitimate financial website by the name of cash4ps, which has been active in the past four years. Further, the company has been identified as operating an account in a banned bank. It seems that one of the web site’s managers has ties to Hamas. Moreover, an analysis of the varied financial transactions carried out through the web site point out to methods of funds transfer by the terror organizations into Gaza, from Gaza and within Gaza. Even though one cannot point out with complete certainty specific transactions as done for of by terror organizations, the very nexus between the Bitcoin address, the site’s managers affiliation and the type of the site’s activity presents a variety of means to be used by terror organization to raise donations and funds, pay operatives and finance terror attacks outside of Gaza.

Social Networks

2. The ICT has conducted and researched the 1LaNXgq2ctDEa4fTha6PTo8sucqzieQctq Bitcoin address on social media platforms. The above address has been observed in militant Telegram channels that advertised an online fundraising campaign that has been running on social media in the past couple of years titled “Index”.

3. Further, a search on Facebook revealed posts by al-Buraq media outlet on November 2019. The posts identified the group with al-Nasr Brigades and included an appeal for support due to lack of resources and Iran’s rejection to their request for support. Similar to the posts on Telegram, these posts refer to two accounts: @maddgaza and @maddgaza1.

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