$70 million robbed from Bank of Palestine by Hamas-linked gang

In several robberies, Hamas-affiliated criminal gang nets some $70 million from multiple branches of the Bank of Palestine.

By World Israel News Staff

Armed criminal gangs in Gaza stole some $70 million from the Bank of Palestine in April, likely with the approval of the Hamas terror group, according to a bombshell report in French-language newspaper Le Monde.

Notably, the heist took place over several days. Overnight in early April, the robbers drilled a hole in the ceiling of one bank branch in the affluent Rimal neighborhood in Gaza City. Via that entry point, the criminals reportedly stole about $3 million from the bank’s vault.

The robbery was quickly discovered by bank employees the next day, who reported the massive loss of cash to their superiors.

However, the next day, the robbers returned to the bank. Using an explosive device, they blew up a cement protection chamber and gained access to three vaults. At least $30 million was taken in that incident.

Two days later, armed men stormed another branch of the Bank of Palestine, demanding cash in a daytime robbery. The men told the bank employees that they “answer to the highest authorities in Gaza,” meaning the Hamas terror group.

That robbery netted an additional $36 million in cash.

Documents obtained by Le Monde confirmed that the robberies had taken place, and that the bank was informing its international partners about the huge losses.

AFP reached out to the Palestinian Monetary Authority (PMA), a watchdog group tasked with overseeing banking in the territories, for comment on the robberies. The PMA said it would issue a statement regarding the massive heist later on Sunday.

In December 2023, some $49 million in cash was transported from branches of the Bank of Palestine in the northern part of the Strip to the south.

The transfer operation took place with the knowledge of Israel and was supported by convoy of United Nations vehicles.