ChainCatcher news, according to Cointelegraph, a 35-year-old man from Springfield, Virginia, Mohammed Azharuddin Chhipa, has been criminally charged for donating cryptocurrency to the notorious Islamic terrorist organization Islamic State of Iraq and Syria (ISIS).According to the U.S. Department of Justice (DOJ), from October 2019 to October 2022, Chhipa sent cryptocurrency worth $185,000 to ISIS members in Syria.

ChainCatcher message, an internal investigation into the national terrorism threat in Singapore shows that terrorist organizations heavily rely on cash transfers to raise funds. In contrast, the adoption rate of cryptocurrencies by terrorist organizations remains low.The Singapore government has noted that various Islamic terrorist organizations are increasingly using cryptocurrencies to fund their activities. However, most of the funding for the Islamic State (ISIS) in Iraq and Syria is still obtained through cash transfers. Wire transfers through financial institutions, money service companies, and cash courier companies remain the preferred method for terrorist organizations to raise funds.

ChainCatcher news, according to NBC, Twitter co-founder Jack Dorsey's fintech company Block is under a compliance investigation by federal prosecutors. Internal documents provided by a former employee to the Southern District of New York prosecutors indicate that Block's Square and Cash App businesses have long-standing and widespread compliance deficiencies.These issues include: insufficient collection of customer information to assess risk; Square processed thousands of transactions involving sanctioned countries; Block handled multiple cryptocurrency transactions for terrorist organizations; and most suspicious transactions involving credit cards, dollar transfers, and Bitcoin were not accurately reported to the government.Block stated that it has established a comprehensive compliance program and continues to invest to address new threats and the evolving sanctions regulatory environment. However, the former employee claimed that the company did not take corrective actions after discovering violations. Additionally, an external consulting firm found nearly 50 deficiencies in Block's internal monitoring system last year.It is reported that Block's payment application Verse in Europe was also fined by the Bank of Lithuania last year and ordered to rectify for "serious and systemic" violations of anti-money laundering and anti-terrorism financing laws.As one of the most popular mobile payment applications in the United States, Cash App has 56 million active users, but its banking partner Sutton Bank recently reached a settlement with the Federal Deposit Insurance Corporation (FDIC) over issues such as violations of the Bank Secrecy Act. Financial regulators are intensifying compliance reviews of third-party payment institutions.