The U.S. Department of the Treasury published a joint statement from the Counter ISIS Finance Group (CIFG) co-leads following the group’s 21st meeting, setting out priorities for disrupting ISIS financing and highlighting growing risks linked to virtual assets. The statement calls for stronger cross-border coordination, including with the private sector, to detect and disrupt terrorist fundraising and financial facilitation networks. The virtual meeting, convened by the United States, Italy, and Saudi Arabia and held February 4–5, brought together more than 30 member states and observers to share insights and case studies on ISIS financing across Africa, Asia, Europe, and the Middle East. Participants cited continued use of cash couriers, hawalas, and financial institutions, alongside mobile money applications and virtual asset service providers (VASPs), and noted concerns about terrorists using stolen or fake identification documents to access VASPs. The co-leads urged coalition members to enhance information-sharing, monitor and disrupt fundraising across the international financial system including digital platforms, strengthen security measures to prevent ISIS control of territory, bolster anti-money laundering and countering the financing of terrorism (AML/CFT) regimes in line with Financial Action Task Force (FATF) standards, and increase public actions including prosecutions and targeted financial sanctions.
U.S. Department of the Treasury 2025-02-28
U.S. Department of the Treasury co-convenes 21st Counter ISIS Finance Group meeting spotlighting terrorist use of virtual asset service providers
The U.S. Department of the Treasury released a joint statement from the Counter ISIS Finance Group co-leads after their 21st meeting, emphasizing priorities to disrupt ISIS financing and address risks with virtual assets. The statement calls for enhanced cross-border coordination and collaboration with the private sector to detect and disrupt terrorist financial networks. Participants highlighted the use of cash couriers, hawalas, and virtual asset service providers, urging improved information-sharing and strengthened AML/CFT measures in line with Financial Action Task Force standards.