1. BITBILIHome
  2. Article

Israel seizes millions of dollars in digital funds, averts terror financing plot

• 63 views

TL;DR Breakdown

  • Israel’s Defense Ministry seizes millions of dollars in digital funds intended for Hezbollah and the Iranian Quds Force, disrupting their terror financing operations.
  • The operation marks a significant achievement in the ongoing battle against terrorist funding, demonstrating Israel’s commitment to combating using digital currencies for illicit purposes.
  • Collaboration among defense and intelligence agencies and advanced technology played a crucial role in the successful operation.

Description

The Israeli Defense Ministry announced on Tuesday that it had successfully seized millions of dollars in digital funds intended for Hezbollah, a powerful Iranian-backed Lebanese group, and the foreign Quds Force arm of Iran’s Revolutionary Guards. The operation, approved by Israeli Defense Minister Yoav Gallant, aimed to identify and confiscate funds laundered by Iran-supported organizations. … Read more

The Israeli Defense Ministry announced on Tuesday that it had successfully seized millions of dollars in digital funds intended for Hezbollah, a powerful Iranian-backed Lebanese group, and the foreign Quds Force arm of Iran’s Revolutionary Guards. The operation, approved by Israeli Defense Minister Yoav Gallant, aimed to identify and confiscate funds laundered by Iran-supported organizations.

According to the Defense Ministry, Hezbollah, Quds Force, and Syrian operatives have been using digital currencies to receive funds from third parties through illegal transactions. However, Israeli authorities were able to stop the transfer of millions of dollars to these operatives and effectively cut off the flow of terror funds through this channel.

“This operation represents another step in our ongoing economic campaign against Iran and its terrorist proxies,” stated Defense Minister Yoav Gallant. “We have disrupted the terrorist infrastructure and seized millions of Shekels intended for use by these terrorist organizations. This demonstrates our unwavering commitment to combating terror funds.”

The Israeli Defense Ministry did not disclose the amount of funds seized, but blockchain analytics firm Chainalysis reported that $1.7 million was confiscated during the operation. The involvement of Chainalysis tools in this landmark achievement was confirmed in a blog post by the firm, which expressed pride in its contribution to national security.

Israel’s success in seizing cryptocurrency intended for terror financing follows similar efforts against other extremist groups. Earlier this year, Israeli authorities seized around 190 accounts on the popular cryptocurrency exchange Binance, linked to the Islamic State and Hamas. Although a blog post by Binance pointed out that the Reuters report was intentionally misleading as it failed to include crucial details in its coverage.

The Israeli Defense Minister emphasized the role of collaboration and advanced technology in this operation’s success. Gallant credited the joint efforts of the Israeli defense and justice ministries, Israeli intelligence agencies, and the development of new capabilities within the National Bureau for Counter-Terrorist Financing in the Ministry of Defense. These collective efforts have yielded significant achievements in the battle against terrorism financing.

Hezbollah has been accused of engaging in various acts of terrorism and is considered a major threat to Israel’s security.

Combating terror financing in the digital age

The fight against terror financing has become increasingly complex as extremist groups utilize digital currencies. Defense Minister Gallant addressed this issue during his speech at the National Bureau for Counter Terror Financing conference, highlighting the importance of combating the resources behind terrorism.

Gallant emphasized that anyone who finances or maintains financial ties with terrorist operatives will be targeted, similar to those directly involved in acts of terrorism. He also emphasized Iran’s role as a key financier, trainer, and disseminator of terrorism, both directly and through its agents.

Israeli authorities have clarified that their fight against terrorist financing is ongoing. With the successful operation against Hezbollah and the Quds Force’s digital financing scheme, Israel has sent a powerful message about its determination to disrupt terrorist funding and safeguard national security.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Israel seizes millions of dollars in digital funds, averts terror financing plot

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月2日 04:01
Next 2023年7月2日 06:27

Related articles

  • Here is how UK can actually tackle inflation

    TL;DR Breakdown UK can tackle inflation by adjusting monetary policy and potentially raising interest rates. Increase taxes for the better-off to drive out inflation. Advocate for a more balanced housing policy to stabilize the market. Address missed opportunities to invest in infrastructure during periods of low interest rates. Description Inflation, like an uninvited guest, is making itself felt in the UK, affecting everyday finances, right from interest rates to mortgage repayments. While this is a headache for most, for some, it’s business as usual. This uneven distribution of pain makes it clear that the current monetary policy isn’t doing enough to quickly combat inflation. … Read more Inflation, like an uninvited guest, is making itself felt in the UK, affecting everyday finances, right from interest rates to mortgage repayments. While this is a headache for most, for some, it’s business as usual. This uneven distribution of pain makes it clear that the current monetary policy isn’t doing enough to quickly combat inflation. Rebalancing housing policies A key area that’s been disproportionately affected is the housing market. It’s a market segment…

    Article 2023年7月10日

  • U.S. commerce secretary gears up for crucial China visit

    TL;DR Breakdown U.S. Commerce Secretary Gina Raimondo will visit China from August 27 to 30. This is the third visit by a high-ranking U.S. official to China recently. China highlights the visit as an invitation from their Minister of Commerce, Wang Wentao. Description Amid a myriad of international tensions and fragile relations, U.S. Commerce Secretary Gina Raimondo is charting a course straight to China’s heartland. Scheduled for the end of August, Raimondo’s trip marks a strategic move in international diplomacy between the two global giants. Navigating Choppy Diplomatic Waters Gina Raimondo isn’t just making a cursory visit. Her … Read more Amid a myriad of international tensions and fragile relations, U.S. Commerce Secretary Gina Raimondo is charting a course straight to China’s heartland. Scheduled for the end of August, Raimondo’s trip marks a strategic move in international diplomacy between the two global giants. Navigating Choppy Diplomatic Waters Gina Raimondo isn’t just making a cursory visit. Her sojourn from August 27 to 30 comes hot on the heels of high-ranking U.S. officials setting their sights on China. Remember Antony Blinken’s rendezvous…

    Article 2023年8月23日

  • Law Enforcement and Binance Join Forces to Thwart North Korean Organized Crime 

    TL;DR Breakdown U.S. law enforcement, in collaboration with the Binance Investigations team, successfully seized $4.4 million and froze accounts associated with North Korean organized crime. The operation, conducted in compliance with lawfully served warrants, highlights the commitment of authorities to safeguarding financial systems. In a significant victory against North Korean organized crime, the United States law enforcement, in conjunction with the Binance Investigations team, successfully seized $4.4 million and froze several accounts linked to illicit activities. This noteworthy accomplishment highlights the unwavering commitment of both law enforcement agencies and the cryptocurrency exchange in combating crime on a global scale. The operation, conducted in compliance with lawfully served warrants and through robust collaboration with authorities, underscores the effectiveness of proactive measures taken over a year ago. Contents hide 1 Joint Efforts Yield Fruitful Outcomes and Disrupt Criminal Networks 2 Upholding the Law, Promoting Global Security, and Safeguarding Financial Systems 3 Collaboration between government agencies and private sector entities 4 Conclusion Joint Efforts Yield Fruitful Outcomes and Disrupt Criminal Networks The collaborative efforts between U.S. law enforcement and the Binance Investigations team…

    Article 2023年5月26日

  • Why Apple’s iPhone 15 launch isn’t all it could’ve been

    TL;DR Breakdown Apple’s iPhone 15 launch met with mixed reactions. The company faces significant market challenges in China due to government restrictions. Apple also contends with fierce competition from Huawei’s new Mate 60 Pro. Users will see a transition from “Lightning” charging cables to USB-C. Description In a world where technology and innovation reign supreme, Apple’s much-anticipated iPhone 15 launch left many with a taste of déjà vu. But for a company that often prides itself on groundbreaking transformations, was this launch up to the mark? Navigating Market Challenges The iPhone, a flagship product for the tech giant, accounting for over … Read more In a world where technology and innovation reign supreme, Apple’s much-anticipated iPhone 15 launch left many with a taste of déjà vu. But for a company that often prides itself on groundbreaking transformations, was this launch up to the mark? Navigating Market Challenges The iPhone, a flagship product for the tech giant, accounting for over half of their astounding $394.3 billion in sales just last year, now confronts significant market challenges, especially in China, Apple’s third-largest…

    Article 2023年9月13日

  • HSBC’s H1 net profit more than doubles – What’s next?

    TL;DR Breakdown HSBC’s net profit more than doubled in the first half of 2023, reaching $18.1 billion, driven by strategic decisions and higher net interest income. The bank’s board approved a second interim dividend and a $2 billion share buyback, and the CEO expects to exceed pre-pandemic dividend levels by year’s end. Description The financial world is always on the lookout for a success story, and HSBC’s latest report is nothing short of triumphant. As Europe’s largest bank by assets, HSBC’s net profit soared to a staggering $18.1 billion in the first half of this year, a leap that more than doubled the $9 billion from the same … Read more The financial world is always on the lookout for a success story, and HSBC’s latest report is nothing short of triumphant. As Europe’s largest bank by assets, HSBC’s net profit soared to a staggering $18.1 billion in the first half of this year, a leap that more than doubled the $9 billion from the same period in the previous year. But what’s next for HSBC? The answer is a…

    Article 2023年8月2日
TOP