Minister of Defense Yoav Gallant delivered remarks at the third annual crypto conference hosted by the National Bureau for Counter Terror Financing (NBCTF) in Israel’s Ministry of Defense. During the event, Minister Gallant revealed an unprecedented operation, which he approved and launched several weeks prior, with the aim of identifying and confiscating terror funds laundered by terrorist organizations supported by Iran.
Excerpts from the Minister’s remarks:
“Since its establishment, Israel has faced complex security threats. Over the years, as technology advanced and developed, so did the threats – changed and evolved. In addition to our fight against terror organizations and their proxies, we are now also tasked with identifying and cutting off the resources intended for terrorism.”
“This is not a simple mission, and it only becomes more complex once we deal with digital currencies. Anyone who finances terrorism and/or maintains financial ties with the perpetrators of terror – must know that they too, will become targets.”
“Over the past few months, the NBCTF in the ministry of Defense, in cooperation with the Mossad, Intelligence Directorate of the IDF, the police, and additional institutions, have developed new capabilities, which have enabled significant achievements in this domain.”
“ Since the beginning of this year, Hezbollah, Quds Force and Syrian operatives have used digital currencies to receive funds from third parties, via illegal transactions.
This is the first operation of its kind and scale – we have set a precedented in exposing the source of terror-funding via digital currencies. We have thwarted the transfer of millions of dollars to terrorists.”
“By virtue of my authority as Minister of Defense, I issued an order that enabled the confiscation of said funds, as well as their transfer to the State of Israel. In doing so, we have effectively cut off the flow of terror funds via this channel.”
“We are shown once again, Iranian efforts to sponsor and disseminate terrorism against Israel and against the international community – both directly and indirectly via its proxies.”