Israeli police arrested five people on Tuesday in a money laundering investigation involving about 16 million shekels, or $5 million, in cryptocurrency transactions arranged through a WhatsApp group. The suspects are suspected of providing cryptocurrency services without a licence, failing to report transactions to the tax authorities and using fictitious loan agreements to disguise crypto proceeds transferred into bank accounts. Authorities seized wallets, computers and tens of thousands of shekels in cash during searches of the suspects’ homes. Two other arrests were announced on October 6 in cases involving suspected failures to report cryptocurrency activity.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
