A recent investigation revealed that approximately 450 individuals associated with Hamas have connections to Canada and are currently being monitored by the Canadian Security Intelligence Service (CSIS). This group includes Canadian citizens, permanent residents, and others with familial or social ties to the country. Among those identified is Usama Ali, a dual Canadian-Lebanese national, who has reportedly been a member of Hamas’s Shura Council since 2019. This council is responsible for selecting the group's leadership and determining its strategic direction. Ali is under U.S. Treasury sanctions and is believed to oversee Hamas’s Investment Office in Turkey, managing around $500 million in assets through real estate and construction ventures.

Another individual, Omar Alkassab, arrived in Winnipeg as a refugee in 2016, part of a resettlement initiative by former Prime Minister Justin Trudeau for over 100,000 Syrians fleeing civil war. Intelligence sources indicate that Alkassab has connections to Hamas’s financial operations, including a cryptocurrency account allegedly used to transfer funds into Gaza.

The investigation highlights a persistent issue: Canada is seen as a vulnerable target for infiltration by Hamas-linked operatives. The situation has worsened since the October 7 attacks, which have increased the scrutiny on Canada’s financial and immigration systems. For years, Hamas has taken advantage of Canada’s lax regulations to launder money and facilitate cross-border transactions. Canadian nationals and underground currency exchanges have been implicated in laundering funds for the organization.

Hamas has also utilized donations from sympathetic charities, employing various methods such as cash couriers, front companies, bank transfers, hawala networks, and mainstream money transfer services. In 2014, the Canadian government designated the Muslim charity IRFAN-Canada as a terrorist entity for allegedly funneling over $14.6 million to Hamas.

Since the recent attacks, Hamas has exploited compliance gaps to raise funds through both established and emerging online financial platforms. These vulnerabilities were highlighted in a federal report released in August, which assessed the risks of money laundering and terrorist financing in Canada. The report noted that Hamas has been quick to adopt digital currencies like Bitcoin and Tether, which are crucial to its funding strategies. It also pointed out that the group uses online platforms and social media to solicit and transfer funds, circumventing traditional scrutiny.

The systemic issues within Canada’s financial systems are significant. The U.S. Justice Department recently imposed a historic $3 billion fine on TD Bank, the largest penalty ever under the Bank Secrecy Act, signaling serious failures in financial oversight. Deputy Secretary of the U.S. Treasury Wally Adeyemo stated, "From fentanyl and narcotics trafficking to terrorist financing and human trafficking, TD Bank’s chronic failures provided fertile ground for illicit activity to penetrate our financial system."

The Criminal Intelligence Service of Canada estimates that between $45 billion and $113 billion is laundered through the country annually, underscoring Canada’s role as a financial conduit for international criminal and terrorist networks. This issue is not new; as early as 1998, former CSIS director Ward Elcock warned Parliament that Canada risked becoming "an unofficial state sponsor of terrorism" due to inaction. His cautionary remarks have proven to be prescient. The problem extends beyond Canada, as Hamas and its ideological counterpart, the Muslim Brotherhood, have spent decades building networks across Western democracies, exploiting charitable sectors and legal systems to further their objectives.