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Massive FBI enforcement action against financial cybercrime organization in Israel

FBI law enforcement action in Israel against scammers
Spread financial intelligence

The U.S. Federal Bureau of Investigation (FBI) and Israel Police raided a Tel Aviv-based company in a joint operation. They arrested 26 Israelis on charges of running a financial cybercrime organization. Simone Weinglass reports in the Times of Israel that this cybercrime organization is active in Israel and Tel Aviv. No names of companies or individuals are known yet. The authorities suspect that the individuals have defrauded millions from dozens of foreign victims, among them U.S. citizens. Israel apparently no longer protects its scammers against foreign law enforcement raids. That’s good news!

The arrests in Israel were only part of a coordinated simultaneous operation by several law enforcement agencies across several jurisdictions, police said, without giving further details on other locations. The bust was conducted after a joint investigation of the United States and Israeli authorities led by the American authorities.

According to the Police, a group of Israelis was defrauding dozens of people to the tune of tens of millions of shekels via a cryptocurrency scheme. The scheme solicited money from victims by marketing various investment products but did not make any form of investment. The authorities trapped the alleged perpetrators by conducting a sting operation last month.

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