HomeStock MarketIsrael targets Hamas' complex global finance network involving cash-to-crypto transactions, aiming to...

Israel targets Hamas’ complex global finance network involving cash-to-crypto transactions, aiming to dismantle it.

The Financing Tactics of Hamas: A Complex Web of Funds


Hamas, the Palestinian militant group governing the Gaza Strip, relies on a global financing network to support its activities. Experts and officials have revealed that Hamas uses various methods, including charities and cryptocurrencies, to bypass international sanctions and access funds. However, recent events, including the killing of hundreds of Israelis by Hamas gunmen and Israel’s subsequent bombardment of Gaza, have made it even more challenging for Hamas to secure funding.

The Financial Web

A frozen Barclays bank account and blocked cryptocurrency accounts shed light on the intricate financial web that sustains Hamas. Former U.S. official Matthew Levitt estimates that the majority of Hamas’ budget, exceeding $300 million, comes from business taxes, donations from countries like Iran and Qatar, and charities. Hamas has also utilized cryptocurrencies, credit cards, and contrived trade deals to evade international restrictions, making it one of the more successful terrorist organizations in this regard.

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The Impact of Recent Violence

Following the recent violence, Hamas-linked support groups have seen a decrease in cryptocurrency donations due to Israeli authorities actively targeting them. Over the years, Israel has seized cryptocurrency worth tens of millions of dollars from Hamas-linked addresses. Despite these challenges, Hamas’ allies, such as Iran and Qatar, continue to find ways to provide financial support through methods like shell companies, shipping transactions, and precious metals.

Qatar’s Role

Qatar has been instrumental in providing financial aid to Gaza, with hundreds of millions of dollars allocated since 2014. This aid helps support the operation of the enclave’s power plant, assist needy families, and sustain the Hamas-run government. The funds from Qatar are transferred electronically to Israel, which then distributes the cash to Gaza. This coordinated effort involves Israel, the United Nations, and the United States.

Challenges and Circumvention

Efforts to restrict Hamas’ access to formal financial channels may have limited success, as the group has developed tactics to circumvent such measures. Stephen Reimer of the Royal United Services Institute predicts that Hamas will continue to adapt its financing methods to overcome these obstacles.

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By providing a deeper understanding of Hamas’ financing tactics, this article sheds light on the complex web of funds that support the organization’s activities. Despite the challenges faced by Hamas, its ability to adapt and find alternative sources of funding remains a concern for international efforts to combat terrorism.

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