The Israel Defense Forces and Israel Security Agency have unveiled what they characterize as a covert Hamas currency-exchange network operating in “under Iran’s direction,” per documents and statements issued this week.
Per intelligence shared by the IDF and ISA, Gazans living in exile in Turkey have utilized the nation’s financial systems to transfer substantial funds to Hamas, with total transactions amounting to hundreds of millions of dollars.
The agencies state that the network works in collaboration with the , sending money to Hamas and its top officials—and, per Israeli claims, assisting the group in rebuilding its capacities beyond Gaza’s borders.
The recently uncovered documents contain records of currency transfers worth hundreds of thousands of dollars—amounts that officials note are just a fraction of the network’s total operations.
Israeli security agencies indicate that the network accepts, holds, and moves Iranian funds while operating inside Turkey.
The IDF and ISA have named three Gazan operatives in Turkey who they deem key to the network: Tamer Hassan, labeled a senior member of Hamas’s Turkish finance office reporting directly to Khalil al-Hayya; and currency traders Khalil Farwana and Farid Abu Dair.
Israel asserts that Iran’s support has stayed consistent, and Hamas is ongoingly rebuilding its operational capacities outside the Gaza Strip.
The IDF and ISA’s disclosures come at a time when the U.S. is engaged in an ongoing debate about and its ties to Hamas. has previously documented that Turkey has hosted Hamas members for years and has pursued a prominent role in post-conflict Gaza—even as the Trump administration considers permitting Turkish forces to join a U.S.-supported stabilization effort.
Sinan Ciddi, a Turkey analyst at the Foundation for Defense of Democracies, told Digital that Ankara’s political shielding of Hamas—combined with its opposition to Israeli military operations—has established a lenient safe haven that Israeli pressure alone cannot eliminate.
Ciddi contends that the existence of operatives based in Turkey illustrates how Hamas has expanded its financial reach to avoid sanctions and border restrictions. He further noted that for Israel, “this is not just a financial concern but a strategic warning signal,” explaining that Iran is inserting itself more deeply into Turkey’s economic framework and allowing a regional proxy to rebuild and deploy forces. If not addressed, he cautioned, “the network could fund future attacks and extend Hamas’s influence throughout the region, weakening Israel’s wartime objectives and long-term security.”
In a recent conversation with Digital, Gonul Tol—a senior fellow at the Middle East Institute and author of “Erdoğan’s War: A Strongman’s Struggle at Home and in Syria”—stated that Turkey’s assertive stance on Gaza is closely linked to Erdoğan’s domestic political survival and his enduring backing of Islamist groups across the region.
“The main objective here is domestic politics,” she explained. “Erdoğan has consistently positioned himself as a champion of the Palestinian cause, and his most conservative supporters frequently press him to adopt a firm stance against Israel.”
However, Tol pointed out that Erdoğan has also acted pragmatically behind closed doors, especially in his interactions with Washington. “Sources close to him indicate that the Hamas leadership was asked to leave Turkey discreetly. They are taking all steps to avoid angering the Trump administration,” she added.
She further mentioned that Erdoğan even urged Hamas to accept Trump’s Gaza plan, highlighting that it contained clauses unfavorable to the group.
Israeli officials have long maintained that Turkey’s lenient environment has enabled Hamas to run external networks—including Iran-backed financial branches—and assert that the newly released intelligence emphasizes the dangers of letting Turkey play a more significant role in Gaza’s future.
When announcing their findings, the IDF and ISA warned individuals and organizations against interacting with the uncovered network or any other , stating that such engagements could contribute to terrorist financing and help Hamas rebuild its infrastructure overseas.
The Turkish Embassy did not reply to Digital’s request for a statement.