Financial Crime

An ABC investigation has exposed an international investment fraud network that allegedly operated from Israel and scammed more than 4,000 Australians out of hundreds of millions of dollars. Among the victims: a man who lost $125,000 after being unable to withdraw his money.

Turkish authorities have launched a series of raids at 123 locations against a network suspected of laundering approximately $2.1 billion. 30 suspects have already been arrested, and the investigation is examining a money trail that reports link to "Israeli financial networks."

The Tax Authority is investigating a dentist from Be'er Sheva on suspicion of failing to report income of millions of shekels. According to the suspicion, the gap between deposits and reports exceeded 10 million shekels, real estate assets were omitted from a capital declaration, and a residential address was not updated.