|
Trending Topics
|
How Hamas Raises, Uses, and Moves Money
(Atlantic Council) Kimberly Donovan - Hamas has been designated as a foreign terrorist organization by the U.S. since 1997. Nevertheless, the group has been able to access the global financial system to amass a diverse stream of income from multiple sources. In addition to extorting money from the civilian population of Gaza and receiving financial support from Iran, estimated to be as much as $100 million, Hamas has created a global investment portfolio valued between $500 million and $1 billion. This portfolio is invested in companies in countries including the UAE, Turkey, and Qatar. Hamas has also effectively exploited the charitable sector and solicited donations from witting and unwitting donors using crowdfunding websites. Moreover, Hamas and other illicit actors use increasingly sophisticated money laundering techniques including smuggling cash and using shell companies to avoid detection.