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The U.S. Treasury Department says three people collected more than $2 million for Hamas between 2020 and 2026, including $1.5 million after the October 7, 2023 attack on Israel. Treasury separately says two France-based fundraisers sent hundreds of thousands of dollars in cryptocurrency to a Gaza-based Hamas financial facilitator. That crypto figure is not the same as the overall fundraising total.
What Treasury announced
On October 2, 2026, the Treasury Department’s Office of Foreign Assets Control (OFAC) announced sanctions designations against Saleem Abdallah Saleem al-Zaq, Faouzi Barika, Amel Oualid, and two entities Treasury said were affiliated with them. The action was taken under Executive Order 13224, as amended. Treasury also notes that Hamas is designated as a Foreign Terrorist Organization under section 219 of the Immigration and Nationality Act. Treasury’s announcement describes the alleged fundraising network and its participants.
The designations are an administrative sanctions action. They are not, by themselves, a court judgment establishing the specific allegations described in the release.
How Treasury says the network worked
Treasury describes a network combining purported charitable fundraising, cryptocurrency transfers, and money-service businesses. Its account assigns different roles to the named individuals and organizations, but does not provide a dollar-by-dollar breakdown for each channel.
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| Participant or channel | Role described by Treasury |
|---|---|
| Saleem Abdallah Saleem al-Zaq | Treasury describes al-Zaq as a Gaza-based deputy in a Hamas military-wing battalion who oversaw a financial network using money-service businesses and cryptocurrency wallets to transfer funds to Hamas’s Al-Qassam Brigades. |
| Faouzi Barika | Treasury says Barika operated from France, jointly established Association Baraka with al-Zaq, and raised money through the purported charity. |
| Amel Oualid | Treasury says Oualid operated from France and established Ensemble C Mieux, which the department characterizes as a purported charity used to solicit or raise donations. |
| Charitable solicitation | Treasury alleges Association Baraka and Ensemble C Mieux were used to raise donations that were transferred to al-Zaq and Hamas. |
| Cryptocurrency and money-service businesses | Treasury says the network used cryptocurrency wallets and money-service businesses; it does not assign a specific dollar amount to either channel. |
These descriptions are Treasury’s allegations and characterizations of the people, entities, and activity. They should not be read as claims about charities or humanitarian organizations generally.
What the reported amounts do—and do not—show
Treasury reports that Barika, Oualid, and al-Zaq collected more than $2 million for Hamas during 2020–2026. The department says $1.5 million of that total was collected after the October 7, 2023 attack on Israel. Separately, Treasury says Barika and Oualid sent hundreds of thousands of dollars in cryptocurrency to al-Zaq. It does not give a more precise crypto total.
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The figures measure different things: an overall amount Treasury says was collected, the portion it says came in after October 7, 2023, and a separate estimate of cryptocurrency transfers. Treasury’s release does not establish that the full $2 million was raised or moved in crypto, nor does it provide a channel-by-channel audit. It also does not specify a crypto asset, wallet count, transaction dates, or a more exact transfer amount.
How this fits Treasury’s wider actions
The October announcement followed earlier Treasury actions against what the department describes as a sham-charity network. In a March 12, 2026 release, Treasury referenced actions in October 2024, June 2025, and January 2026 involving purported charities it said directly funded Hamas’s military wing. This provides official context for a series of sanctions actions, not independent confirmation of the allegations in the October release. Read Treasury’s March 2026 release.
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Treasury’s 2026 National Terrorist Financing Risk Assessment reports that U.S. financial institutions filed 642 suspicious activity reports containing a key term specified in FinCEN’s 2023 Hamas-financing advisory. That is a count of reports filed—not a count of confirmed Hamas transactions or proven cases.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why Treasury says the activity matters
Treasury Secretary Scott Bessent said in the October 2, 2026 announcement: “Terrorist organizations like Hamas rely on sophisticated financial facilitators and fraudulent schemes designed to exploit the public to sustain their operations.” The statement summarizes Treasury’s rationale for targeting alleged facilitators and fundraising entities; it does not add a separate transaction finding.
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