Palestinian Laundering Law Would Do Little to Stop Hamas, Say Banking Consultants

By Brian Orsak

A proposed Palestinian anti-money laundering law would do little to stop the illicit fund-raising efforts of sanctioned militant group Hamas, which acquires much of its funding through bulk cash smuggling, say consultants. Arab and Israeli newspapers reported Aug. 21 that the Palestinian government run by the political party Fatah, which is vying with Hamas for the control of the divided Palestinian territories, is drafting measures to counter laundering by its rival. Hamas, which split with its once tenuous ally Fatah in a violent takeover of Gaza Strip in June, has been considered a terrorist organization by the U.S. since 1995....