Terrorist Financing Targeting Center Begins 2026 With Coordinated Strategy and Capacity Building on Illicit Cash and Informal Transfer Networks

The Terrorist Financing Targeting Center (TFTC) entered 2026 with a strengthened commitment to coordinated action against terrorist financing. Building on sustained multilateral cooperation among its member states, TFTC continues to advance joint designations, deepen information sharing, and enhance technical capabilities to disrupt terrorist networks and protect the integrity of the international financial system.

In February 2026, TFTC convened a two-day virtual session to coordinate on a strategy for the year ahead. U.S. Treasury Under Secretary for Terrorism and Financial Intelligence John Hurley and Major General Yousef Almohsen, Head of Saudi Arabia’s Permanent Counterterrorism and its Financing Committee, chaired the Executive Committee meeting, held on February 4. Under Secretary Hurley outlined the administration’s counter-terrorist financing priorities in the region, including maintaining maximum pressure on Iran and its network of terrorist proxies.

The Executive Committee session was followed by a focused information-sharing exchange featuring the U.S. Financial Crimes Enforcement Network (FinCEN) and the Saudi Permanent Counterterrorism Committee. Presentations examined key financing typologies conducted by a specific terrorist organization and domestic efforts to identify, track, and disrupt the group’s illicit financial flows.

On February 5, TFTC members participated in capacity-building workshops addressing two persistent vulnerabilities in the global financial system: bulk cash smuggling and the exploitation of money services businesses (MSBs). Experts from the U.S. Department of Homeland Security’s Cross Border Financial Crime Center, FinCEN, and Saudi Arabia’s Zakat, Tax, and Customs Authority emphasized the importance of detecting and interdicting illicit currency movements as a key vulnerability for terror networks.

A second workshop, led by the U.S. Treasury’s Office of Terrorist Financing and Financial Crimes and the Saudi Central Bank, examined the vulnerabilities associated with MSBs—particularly those operating in conflict zones or without customer identification requirements.

The event concluded with small group discussions among the TFTC Year III Fellows to discuss their good practices and obstacles to tackling bulk cash smuggling and unlicensed MSBs.

Throughout 2025, TFTC members reinforced their commitment to coordinated action against terrorist financing, combining joint designations, operational collaboration, and technical exchanges to strengthen regional defenses. By enhancing information sharing and building institutional expertise, TFTC continues to demonstrate the value of multilateral cooperation in denying terrorists access to the international financial system.