Gaza Strip Country Summary
Higher Risk
View full Ratings TableSanctions
Medium Concern
FATF AML Deficient List
Medium Concern
Terrorism
Higher Concern
Corruption
Higher Concern
US State ML Assessment
Medium Concern
Criminal Markets (GI Index)
Medium Concern
EU Tax Blacklist
Lower Concern
Offshore Finance Center
Lower Concern
Please note that although the below Summary will give a general outline of the AML risks associated with the jurisdiction, if you are a Regulated entity then you may need to demonstrate that your Jurisdictional AML risk assessment has included a full assessment of the risk elements that have been identified as underpinning overall Country AML risk. To satisfy these requirements, we would recommend that you use our Subscription area.
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Anti Money Laundering
FATF Status
The West Bank/Gaza Strip is not on the FATF List of Countries that have been identified as having strategic AML deficiencies
Compliance with FATF Recommendations
A Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards has not yet been undertaken for the West Bank/Gaza Strip.
Sanctions
There are no comprehensive UN sanctions targeting the Gaza Strip; UN resolutions demand ceasefires and humanitarian access, but enforcement is hampered by vetoes. Beyond the UN, multiple countries enforce targeted or partial measures against Hamas or Gaza-linked actors—including OFAC designations of Hamas and affiliates with humanitarian licenses; the UK and Canada impose partial arms embargoes and export restrictions to Gaza, the EU maintains a partial arms embargo and reviews related agreements, and Japan, New Zealand, Norway, and Australia have imposed sanctions on Hamas leaders or Gaza-connected individuals.
Criminality
Rating |
0 (bad) - 100 (good) |
|---|---|
| Transparency International Corruption Index | NA |
| World Bank: Control of Corruption Percentile Rank | 26 |
The Gaza Strip faces significant challenges related to corruption, with prevalent issues including nepotism, favoritism, and embezzlement of public funds, particularly within government institutions. While there are legal frameworks like the Anti-Graft Law and active civil society efforts aimed at combating corruption, the perception that access to power is essential for business success remains widespread, indicating a complex landscape of resilience to crime and corruption.
Economy
The economy of the Gaza Strip is severely constrained, with a nominal GDP of just over $19 billion in 2022, and has faced a complete standstill in economic activities following the events of October 7, 2023. The region is characterized by a high unemployment rate, particularly in Gaza, where it reached 74% in the fourth quarter of 2023, exacerbated by restrictions on movement and access to markets, both internally and externally. The heavy reliance on Israel for trade—where approximately 90% of exports are directed—coupled with a significant trade deficit of $6.2 billion, highlights the fragility of Gaza's economic landscape, which is further complicated by ongoing political instability and the lack of foreign direct investment opportunities.
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