Israeli police have arrested five people in an investigation into suspected money laundering involving roughly 16 million shekels or about $5 million in cryptocurrency transactions, including proceeds allegedly moved into bank accounts under the cover of loans.
Summary
- Five suspects were arrested over alleged money laundering, fraud and unlicensed financial services.
- Investigators say loan agreements helped disguise crypto proceeds transferred into legitimate bank accounts.
- A state audit found only 500 annual crypto activity reports against 200,000 potential filers.
Israel Police’s spokesperson said in a Nov. 10 announcement that Lahav 433’s economic crime unit…
