This paper aims to qualitatively explore the efficiency of anti-money laundering regulatory and institutional
frameworks and their obstacles in Palestine. Two approaches were adopted: a review of local regulations and
in-depth interviews with interviewees selected to achieve the needed theoretical generalization. This research
found that money laundering in Palestine is practiced for many reasons. The legislative reference for combating
money laundering in Palestine is Law Code Number 9 for the year 2007 and Number 20 for the year 2015 and
their amendments, while the institutional setting constitutes mainly the Financial Follow-Up Unit. The FFU is
an independent unit specializing in combating money laundering and terrorism financing. The FFU follows up
on banks, money exchange institutions, and other exposed categories. The conclusion of this study is that the
FFU is generally efficient in achieving its goals by controlling banks and money exchange institutions. However,
lower efficiency is achieved with other types of exposed individuals. The Palestinian Authority has limited
control over borders due to occupation, which makes combating money laundering difficult. Some areas are
completely off-limits to Palestinian police, making them hotbeds of immorality. Moreover, some types of
money laundering are indirectly encouraged by Israeli authorities in order to destroy Palestinian society.

Title

Journal of Arts & Social Sciences (JASS)

Publisher

Sultan Qaboos University

Publisher Country

Oman

Publication Type

Both (Printed and Online)

Volume

13

Year

2022

Pages

149-163