Israeli Police Crack Down on Illicit Financial Operations

Israeli authorities have cracked down on two illicit financial operations in recent days, highlighting the growing concern over cryptocurrency-related crimes and unlicensed money lending.

In a coordinated effort, police raided several locations associated with an unauthorized cryptocurrency service, arresting five individuals aged 30-50. The operation netted approximately NIS 80,000 in cash, as well as guns, stun grenades, plastic explosives, ammunition, and a substance suspected to be cocaine. The explosive materials were safely transported to a laboratory for further analysis.

In another development, seven people were detained in Kafr Kassem for allegedly running an unlicensed change operation. Authorities suspect that the suspects provided financial services without proper authorization, including lending tens of millions of shekels to individuals with questionable reputations. The raids on this operation uncovered blank checks, seals, invoices, real estate documentation, luxury vehicles, and a substantial amount of cash.