Hamas is concealing secret foreign investments worth hundreds of millions of dollars in seemingly legitimate businesses, The Jerusalem Post has learned.
Furthermore, if the West cracked down on these investments and the countries facilitating them, some of the Gaza-based terrorist group’s destructive activities could be impaired, according to the Double Cheque website and former Mossad officials.
Intelligence information indicates that from the early 2000s until 2018, Hamas controlled some 40 commercial companies in Turkey, the UAE, Saudi Arabia, Jordan, Algeria and Sudan, Double Cheque reported.
Most of the companies involved are in the real-estate and infrastructure sectors. Through the companies, Hamas manages huge projects and has a reliable way to conceal around $500 million in assets, the article said.
Double Cheque was established to “provide a service for business and intelligence companies as well as financial and regulatory bodies interested in maintaining legitimate business activities and avoiding illegal deals,” its website says.
Although there is little information about the personnel who run the website, much of its information is based on intelligence sources, the Post understands.
Prior to 2015, Saudi Arabia, Algeria, Sudan and other Gulf states allowed their business and banking sectors to be used by Hamas to raise funds that could later be used for its terrorist activities.
But from 2015-2016, the Saudis shifted their position, leading Hamas to move the bulk of its investment operations to Turkey.
Algeria continues to be a major source of foreign investment revenue for Hamas, the report said.
“Hamas has chosen to manage its secret investment portfolio in Turkey because of the weak financial system in Turkey, which enables Hamas to hide its money-laundering activity and tax violations from the regulatory bodies,” Double Cheque reported.
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