Turkey dismantles $266 million international fraud network linked to Israel

Turkish authorities announced on Saturday the arrest of 201 out of 248 suspects in a security operation targeting an “international fraud network with Israeli connections.”

Authorities stated that the operation was coordinated by the Istanbul Chief Public Prosecutor’s Office and jointly carried out by the Istanbul Regional Directorate of the Turkish National Intelligence Organization (MIT) and the Istanbul Police Department.

According to Turkish media, the list of detainees includes nine Israelis and 11 Pakistanis whose identities have been confirmed, as well as individuals from other countries, including Arab nations such as Syria, Jordan, Morocco, Lebanon, Palestine, and Egypt. Judicial investigations are ongoing.

Turkish Justice Minister Akin Erdek announced on Friday the arrest of 175 out of 239 suspects against whom arrest warrants had been issued, in an operation targeting an international forex fraud network linked to Israel.

In a statement published via social media platforms, Erdek said the operation targeted an organized fraud network that used companies operating under the guise of “call centers” to lure citizens from various countries into fake forex and cryptocurrency investments.

He explained that four separate investigations conducted by the Istanbul Public Prosecutor’s Office earlier this year revealed that the network recruited victims through online advertisements and social media platforms, promising high returns.

Erdek stated that analyses by the Financial Crimes Investigation Board, along with results from intelligence and police operations and hundreds of victim complaints collected through Interpol, showed that individuals linked to Israel constituted the majority of company owners and ultimate beneficiaries, exposing a fraud organization targeting multiple countries.

He added that the network specifically targeted countries in Europe, the Far East, and Africa, with transaction volumes reaching approximately 13 billion Turkish lira (around $266 million) over two years, according to investigation findings.

Based on the investigation results, Turkish authorities carried out a coordinated operation at dawn on Friday, involving Interpol units, which targeted 42 call centers belonging to 28 companies across 286 addresses in Istanbul and Mugla.