5 West Bank money exchange firms to be blacklisted over transfers to Hamas

Defense Minister Yoav Gallant says Israel will declare five money exchange offices in the West Bank to be terror organizations.

The decision to declare them as such is due to alleged money transfers made to Hamas and the Palestinian Islamic Jihad in Gaza.

Twenty-one people were arrested overnight by Israeli forces in the West Bank in connection with the transfer of funds to recognized Palestinian terror organizations.

The arrests come after an investigation carried out by the IDF, Central Command, the Shin Bet and Lahav 433, along with the Israel Money Laundering and Terror Financing Prohibition Authority, the National Bureau for Counter Terror Financing of Israel and the Israel Tax Authority.

During the course of the arrests in Ramallah, Jenin, Hebron, Tulkarem, Attil and Al-Bireh, forces seized around NIS 10 million ($2.8 million) from nine branches of the five money exchange companies, a statement says.

Forces also confiscated documents, telephones and recording devices and safes.