Israel arrests 3 suspects suspected of using cryptocurrencies to launder money
2022-08-16 19:36:27

On August 16, Israel's local police and tax bureau said in a joint statement that three suspects were arrested in Israel for allegedly using cryptocurrencies to launder tens of millions of shekels (Israeli currency). Several suspects allegedly laundered money from abroad and in Israel in an organized and systematic manner, some of them from abroad, using digital currencies on various platforms with the aim of confusing and disguising the identities of criminal suspects. The investigation focused on suspected mass fraud against the French treasury from Israel (illegal funds from French COVID-19 relief funds), as well as the theft of millions of euros and money laundering by converting funds into cryptocurrencies. It is also suspected that the profits the suspects obtained from cryptocurrency activities were concealed from the Israeli tax authorities and that various tax violations were committed, accumulating tens of millions of New Shekels.