Unveiling the Intricate Web of Hamas-Linked Business Ventures

[Social Media]

 

In the bustling city of Istanbul, the AG Plaza stands as an architectural marvel, boasting terraces, pools, and commercial spaces designed to attract tech companies seeking proximity to the city's Commerce University campus. However, this seemingly unrelated structure is intricately linked to the devastation in Gaza, shedding light on the financial underpinnings of the militant group Hamas.

 

The AG Plaza, constructed by a company controlled by individuals identified by the U.S. Treasury Department as "Hamas elements," is just one piece of a complex puzzle. A recent Newsweek investigation reveals an extensive network of companies and individuals allegedly funding Hamas operations, uncovering ties that span the Middle East and potentially extend into Western Europe.

 

The U.S. Treasury Department's efforts to disrupt Hamas funding recently intensified, with the Biden administration offering a reward of up to $10 million for information that could dismantle the group's economic foundations. The Rewards for Justice Program targets not only major donors and financial facilitators but also businesses, investments, and criminal schemes connected to Hamas.

 

Despite Israel's efforts to cripple Hamas through aerial and ground assaults on Gaza, the flow of funds from abroad appears undeterred. The investigation suggests that cutting off Hamas funding at its source is a challenging task, given the group's expansive web of interconnected companies, enriching senior figures within Hamas.

 

Key findings from the investigation include a Yemeni business administrator joint-owning a Hamas-linked UAE property company, co-founding a publicly traded Turkish construction company, owning a share of a Hamas front company in Saudi Arabia, and serving on the board of another Hamas-linked Sudanese company. Additionally, a West Bank accountant emerges as central to major construction and real estate firms in Turkey, Sudan, and Saudi Arabia.

 

The network's growth becomes evident as a Sudanese businessman, described by the U.S. Treasury Department as a "Hamas financier" with ties to Osama bin Laden, establishes a Hamas-linked company in Spain. The U.S. Treasury Department estimates the Hamas-linked construction empire's total worth at $500 million, emphasizing the magnitude and complexity of the financial network.

 

While the investigation sheds light on these connections, it also underscores the challenges in disrupting Hamas funding. The group's ability to operate through seemingly legitimate businesses raises concerns about financial crime regulation in industries like construction and real estate, where Hamas-connected developers can obscure the origins of their funds.

 

In the wake of ongoing conflict and humanitarian crises in Gaza, the international community faces the daunting task of dismantling the financial infrastructure that supports Hamas. As efforts intensify, the intricate web of Hamas-linked businesses continues to pose challenges, emphasizing the need for a coordinated and comprehensive approach to address the root causes of the conflict.

 

26.01.24

Source

 

[Bkk Brian]

Israel Says Hamas Gets Online Donations Via Groups Posing as Gaza Charities

Israeli officials estimate Hamas is getting $8 million to $12 million a month through online donations, much of it through organizations posing as charities to help civilians in Gaza.

That would equate to a multi-fold increase for online funding compared to what the group was receiving before its attack on Israel on Oct. 7, according to several officials at Israel’s National Bureau for Counter Terror Financing. They all spoke to Bloomberg on condition of anonymity, citing the sensitivity of their work.

Washington also believes that Hamas receives significant funding from online-donation sites and it is determined to help Israel put a stop to that, according to a senior US official.

https://www.bloomberg.com/news/articles/2024-01-24/israel-says-some-online-gaza-donations-go-to-hamas-instead

https://archive.ph/hx75r

 

Edited January 26 by Bkk Brian

[Bkk Brian]

No surprise with this one of course:

 

Major South African banks provide platform to fund Hamas

Research conducted by The Jerusalem Post staff and several sources uncovered what appears to be a network of several South African organizations and straw man companies deeply involved with funding Hamas activities through the Al-Quds Foundation, an international group sanctioned by the US and outlawed by Israel, using accounts registered in major local South African banks: Standard Bank, Nedbank, and Absa.

The Al-Quds International Foundation (a.k.a. Al-Quds International Institute or QII) was established in Beirut in 2001 by Hamas members to raise funds for the terror organization through the guise of charity. According to the US Department of Treasury, the Hamas leadership runs all of the foundation’s affairs through Hamas members who serve on the board and other administrative committees, while all documents, plans, budgets, and projects are drafted by Hamas officials. Additionally, several senior Hamas officials, including Specially Designated Global Terrorists Mousa Abu Marzook and Osama Hamdan, served on Al-Quds’ Board of Trustees.

https://www.jpost.com/international/article-783558