Visa, Mastercard called upon to cut ties with Palestinian terror funding

Mastercard and Visa have been warned to immediately cut ties with banks operating in the West Bank or risk legal liability for funding terror. They have also been advised not to provide services for a new bank being set up by the Palestinian Authority, as it is being created explicitly for the purpose of continued terror funding. Since its creation in 1994, the PA has paid monthly salaries to terrorists and the families of killed terrorists in so called ‘pay for slay’ payments. These payments to date have been processed through banks operating in the PA controlled territory. However, recent Israeli anti-terror legislation which applies to the PA-controlled areas in the West Bank prohibits, inter alia, any bank transaction that funds, promotes, assists, or rewards the performance of an act of terror.Following the law change in May, banks in the West Bank initially moved to close terrorists’ accounts to avoid
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