Palestinian Authority President Mahmoud Abbas has signed the first anti-money laundering law for the Palestinian Territories. This act was passed by executive decree, in the absence of a quorum in the Palestinian Legislative Council, sometimes called the Palestinian Parliament. The P.A. now has the ability to seize and confiscate cash and bank accounts where the owners cannot satisfactorily prove source of funds. Laws that counter terrorist financing are required for Palestine under the "road map," the ratified international peace plan. Needless to say, it has been reported that Hamas has objected to the law, claiming it was enacted for political ends, to legitimise previous seizures of Hamas property by the Fatah-dominated West Bank-based government.

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