Counter-terror financing expert Ella Rosenberg warns that Israeli banks' exposure to Palestinian Authority money transfers could lead to loss of access to Euro transfers via Deutsche Bank and USD via Citigroup. She cautions that cutting off PA bank transfers entirely would push the Authority to cash, forex, and cryptocurrency, reducing oversight of money laundering and terror financing.
Ella Rosenberg, a counter-terror financing expert and researcher at the Joint Counter-Terrorism Financing Authority (JCFA), published an analysis warning that Israeli banks handling transfers to the Palestinian Authority face a growing risk of being cut off from international correspondent banking. She identified two extreme scenarios: either the banks lose access to euro and dollar clearing through Deutsche Bank and Citigroup, or Israel severs all banking ties with the PA, driving the Authority toward cash, forex, and cryptocurrency. The latter, she argues, would actually reduce monitoring capabilities rather than strengthen the fight against terror financing. The warning highlights the tension between Israel's security interests and the need to maintain a transparent financial system for the PA.
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