Israeli forces on Tuesday raided several money exchange companies in what Israeli media described as part of a campaign to disrupt financial networks allegedly linked to Palestinian factions.
The campaign targeted most West Bank cities, where the occupation forces raided the offices of money exchange companies and confiscated computers and safes.
They also arrested several shop owners in Bethlehem, Ramallah, Nablus, Hebron and Jenin.
The forces confiscated cash, cryptocurrency and jewelry that were intended to finance terrorist attacks, according to the Yedioth Ahronoth newspaper.
“Israeli security forces launched a West Bank operation Tuesday targeting currency exchange businesses suspected of funneling terror funds, seizing approximately 7.5 million shekels ($2 million) in cash and assets,” the newspaper wrote.
Yedioth Ahronoth said the operation follows extensive planning by the Israeli army’s Central Command and West Bank divisions, focusing on intercepting funds used to finance “terror” activity.
In addition to cash, the newspaper wrote that the Israeli forces confiscated cryptocurrency (including Bitcoin), jewelry and other tools allegedly used by currency exchangers to transfer funds to terror networks.
Several suspects were arrested and businesses were shut down under military orders.
Since the Gaza war began on October 7, 2023, the army’s West Bank Division has escalated its financial crackdown, confiscating more than 28 million shekels ($7.5 million) in terror-linked assets, according to Yedioth Ahronoth.
It quoted Palestinian sources as saying that on Tuesday, Israeli forces raided a currency exchange company named Al-Khaleej (The Gulf) in Nablus, arresting an employee and seizing money and furniture.
On some money exchange shops, the Israeli forces left behind flyers that read: “Attention! Israeli security forces are taking action against this company due to its ties to terrorist organizations. As a resident, you should seek a different exchanger who operates lawfully. Any dealings with Al-Khaleej put you and your money at risk and may result in legal consequences. Stay away from this place.”
Al-Khaleej is the main money exchange company that Israeli forces targeted during their campaign in the West Bank.
Videos and photos showed the forces arresting several shop employees while confiscating sums of money and equipment.
The Ramallah-based Palestinian Authority did not immediately comment on the Israeli raids. But on previous occasions, it has described such campaigns as an “an act that aims to undermine the Palestinian banking sector.”
For years, Israel has been fighting what it calls the “Hamas money channels” in both Gaza and the West Bank.
Most of the seized money originated from Türkiye and Iran and was intended to support terror attacks in the West Bank and other areas, Yedioth Ahronoth said.
The Israeli army says that some of the money sent to Hamas were channeled through humanitarian aid and in hand-carry cash, while others via normal bank transfers.
It accuses the movement of smuggling money in ways that are difficult to uncover, using multiple money exchange businesses rather than a central office.
