Police arrested a couple from central Israel suspected of operating a fraud network that impersonated insurance company representatives, tricking over 50 victims, mostly from the Arab community. The suspects allegedly obtained cardless cash withdrawal codes from victims, used them at bank branches, and fled with the money, according to N12. The scheme netted hundreds of thousands of shekels.
Sunday's arrest of a couple from central Israel on suspicion of running a large-scale fraud operation has been followed by new details about how the scheme worked. According to N12, the suspects impersonated insurance company representatives and contacted victims, primarily from the Arab community, exploiting their relative lack of familiarity with financial systems. The couple allegedly provided victims with accurate personal details to gain trust, then convinced them that they were owed money from insurance accounts. The victims were told they could withdraw the funds by paying a fee, thereby avoiding tax. The suspects instructed victims to generate a cardless cash withdrawal code, which the suspects then used at bank branches to collect the money before fleeing.
Police estimate the fraud netted hundreds of thousands of shekels and affected over 50 victims. The investigation is ongoing. The couple was arrested earlier Sunday and police are expected to seek an extension of their remand. As The Zioneer reported earlier today, the initial arrest was made by the Central District police.
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