ISRAEL UNCOVERS ANOTHER TURKEY-TO-WEST BANK HAMAS LINK

ISRAEL UNCOVERS ANOTHER TURKEY-TO-WEST BANK HAMAS LINK

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Arrests made by Israel's internal security agency, of a Hamas agent who was pooling terrorist funds sent into the West Bank from Turkey, confirms the increasing use of Turkey as an operating base, by the Specially Designated Global Terrorist organization. Hamas used one of the universities located in the West Bank to recruit suicide bombers and to move funds, in support of its agents in the field. Turkey's continued alliance with Hamas, after it had given assurances that it had ordered Hamas to move its international operations out of the country, is extremely disturbing, and may be grounds to raise Country Risk.

Please note that the currency involved was Euros, not Dollars. Obviously, Hamas operatives based in Turkey are working with local companies, sending funds to West Bank universities, ostensibly for educational assistance, but in truth and in fact for terrorist actions against civilians.

Given the potential civil penalties, when US companies or persons are found to trade with Hamas, compliance officers at banks whose clients are trading with Turkish companies, might want to check the names of the Turkish companies your clients are dealing with. Do the officers at the Turkish firms have typical Turkish names? If not, you may want to engage Enhanced Due Diligence on the companies and their officers and staff. Trading with Hamas-controlled companies could be expensive, as well as damaging to your bank's reputation.  

Chronicles of Monte Friesner - Financial Crime Analyst  

Contributed by Kenneth Rijock - Financial Crime Consultant

* HAMAS using Palestinian Children as Human Shields - https://www.youtube.com/watch?v=fcrWy3PT6zc