FinCEN Rescinds Alerts Related to West Bank Sanctions
The Treasury Department’s Financial Crimes Enforcement Network this week rescinded two alerts that warned banks about transactions that may have been funding “Israeli extremist settler violence” in violation of U.S. sanctions (see 2402010053). The alerts had asked banks and other…
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financial institutions to submit suspicious activity reports to FinCEN if they believed a transaction may have been tied to West Bank violence. The move came days after the Office of Foreign Assets Control, under the direction of President Donald Trump, officially removed sanctions from all people and entities designated under a Biden-era sanctions authority that had targeted violent Israeli settlers and organizations in the region (see 2501240011).