Financing Terrorism: Currency Exchange in the Service of Hamas
The Hamas movement needs enormous sums of money to finance its terrorist activities. Because Hamas is designated as a terrorist organization by many countries, and because the conventional global banking system does not operate in the Gaza Strip and is monitored by security bodies and state and international enforcement agencies, Hamas and the other terrorist organizations in the Gaza Strip (and Iran) are forced to look for alternative methods to transfer funds to its coffers. The Hamas leadership, in collaboration with the Iranians, employ several channels to transfer the funds. They rely on traditional money changers, use Offset methods between Palestinian laborers and merchants for money changers, and use digital means such as virtually unregulated cryptocurrencies, which are transferred according to agreement by a mostly confidential network.
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