US, Türkiye take joint action to disrupt ISIS financing

The United States and Türkiye have disrupted ISIS’s ability to finance its operations by designating four individuals and two entities of an ISIS financial facilitation network.

The US Department of the Treasury said its Office of Foreign Assets Control (OFAC) designated critical nodes of a key financial facilitation network of the so-called Islamic State of Iraq and Syria, ISIS.

The network includes four individuals and two entities in Turkiye, who have enabled the terrorist group’s recruitment and financial transfers to and from Iraq and Syria, according to press releases from the Treasury Dept and the State Department. This network played a key role in money management, transfer, and distribution for ISIS in the region. Concurrently, the Turkish Ministry of Treasury and Finance, together with the Ministry of Interior, have implemented an asset freeze against members of this network.

“Today’s action reaffirms Treasury’s commitment to degrade ISIS’s ability to operate globally,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.
“These designations and accompanying asset freezes are a result of close coordination and collaboration with our Turkish partners to target ISIS activity in the region,” Nelson added.

As a result of the designations, all property and interests in property of the persons named above, and of any entities that are owned, directly or indirectly, 50 percent or more by them, individually, or with other blocked persons, that are in the United States or in the possession or control of US persons, must be blocked and reported to OFAC.