Israel Announces the Dismantling of a Financial Network that Transferred One Billion Dollars to Hamas

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The Israeli army announced on Friday that it inflicted "significant damage" on Hamas's financing capabilities after targeting a network it said was responsible for transferring money to the movement through dozens of money changers in the Gaza Strip and other countries.

The Israeli army and the Shin Bet security service stated that since the outbreak of the war, they have killed 16 individuals described as key figures in the field of currency exchange and money transfer for Hamas, noting that they were part of a financial network used to fund the military activities of the movement.

According to the Israeli narrative, the network managed financial transfers exceeding one billion dollars, through dozens of money changers in the Gaza Strip and other countries.

There was no immediate comment from Hamas on the Israeli announcement, nor was it possible to independently verify all the details related to the network and the amount of money mentioned by the army.

Among the names that the Israeli army announced targeting was Ibrahim Abu Shamala, who it said was a financial official in Hamas's military wing, along with Muhammad Abu Alwan, whom Israel stated it killed last Wednesday, describing him as responsible for the funds of the political wing of the movement.

The Israeli army separately announced on Thursday the killing of Abu Alwan in an airstrike carried out in cooperation with the Shin Bet in the Khan Younis area in southern Gaza, stating that he had worked in Hamas's financial system for nearly a decade and had funded various sectors within the movement.

However, the previous Israeli announcement mentioned the transfer of more than one billion shekels under Abu Alwan's supervision during the war, a figure specifically related to his activities, differing from the one billion dollars that Israel claims the broader financial network dealt with.

The army also named several officials responsible for money transfer networks, including Khadr Al-Jamasi, Ihab Karizem, and Hussein Al-Qudra, stating that they managed operations for the receipt and delivery of money on behalf of Hamas.

According to the Israeli army, the network extended to dozens of money changers in Gaza and other countries, while the funds, according to its claims, were used to finance Hamas members, purchase and enhance combat capabilities, rehabilitate military infrastructure, and fund operations against Israeli forces.

The army and the Shin Bet added that they continue their efforts to target Hamas's financial capabilities, money changer networks, and individuals involved in money transfer operations, efforts that the army stated in its previous announcement aim to prevent the movement from rebuilding its military capabilities.

These actions are part of an ongoing Israeli strategy to target Hamas's funding sources in parallel with military operations. The army had previously published during the war data and documents it claimed revealed channels and financial operations used by the movement within the Gaza Strip, although Hamas has repeatedly questioned Israel's narratives regarding several of its operations and their outcomes.

The Israeli army asserts that targeting officials and money changer networks has inflicted "significant damage" on Hamas's financial capabilities and military activities, while it did not provide in its statement an independent estimate of the amount of money still available to the movement or its current ability to operate alternative funding networks.