Tech & Telecom Law News

Crypto Terrorism Funding Is Growing More Sophisticated (1)

Jan. 17, 2020, 11:32 PM

Terrorism financing schemes using cryptocurrencies are growing in sophistication, according to researcher Chainalysis Inc., which helps law enforcement track digital-coin transactions.

In one instance, terrorists collected crypto donations worth tens of thousands of dollars in just one campaign last year, a much quicker way to raise funds than prior efforts, the New York-based firm said in a report Friday. It also made it much harder for researchers to track movement of funds than prior, more simple campaigns, Chainalysis said.

In 2019, the Izz ad-Din al-Qassam Brigades (AQB), the military wing of Hamas and a designated terrorist organization, collected money through...

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