Breaking: Major Israeli FX Affiliate Understood to Be Arrested

Finance Magnates understands through unconfirmed reports that an as-yet-unnamed affiliate based in Israel has been arrested on suspicion of alleged money laundering Money Laundering Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Money laundering is a blanket term to describe the process by which criminals disguise the original ownership and proceeds of criminal conduct by making such proceeds appear to be derived from a legitimate source.Money laundering is an issue that traverses countless industries and sectors, which includes the financial services space. Though criminal money may be successfully laundered without the assistance of the financial sector, billions of dollars’ worth of criminally derived money are laund Read this Term.

In a police raid believed to have been conducted this week in the Mediterranean coastal city of Herzilya, it is understood the owner of a long-established affiliation and marketing Marketing Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Marketing is defined as the business process of identifying, anticipating and satisfying customers' needs and wants.This is a crucial element of any operation or brokerage in the financial services space. Well-funded marketing campaigns are instrumental to the survival and longevity of these companies in an increasingly competitive industry.Within the forex space, marketers perform a wide range of functions to help procure, secure, or retain clients.In particular, newer forex brokers also have t Read this Term company specializing in financial trading, has been arrested.

Full details, at this stage, are yet to be released. However, Finance Magnates has learned of the arrest through multiple, as yet unconfirmed sources.

While it may be unrelated, a local media company has reported that Israeli police arrested 21 individuals this week on suspicion of criminal activity including money laundering. Businesses were raided across Israel from the North to the South.

The estimated amount that has been laundered by the businesses involved, according to local reports, is estimated at NIS 500,000,000.

Recently, the Israeli police has been very active in combating fraud and past criminal activity in the financial sector with a number of Israeli citizens arrested in both Israel and abroad. In October, 2 Israeli citizens connected with financial trading were arrested after Germany requested their extradition.

Additionally, the former Chief Financial Officer (CFO) at Celsius was arrested earlier this year on fraud allegations in his previous role at Singulariteam.

We will update the story as it develops.