tax authority arrested 2 Israelis due to information they held unerported bank accounts abroad

The tax authority has arrested two other Israelis following information it received on unreported bank accounts held abroad, the amount of which is NIS 77 million.
The two were arrested as part of two different investigations conducted by Diamond Unit and Mole Investigator Haifa and Northern Investigations, after their names were included in a list of overseas bank account holders accepted under agreements and information exchanges between European countries and tax authorities in accordance with CRS procedure, and their arrest joins a series of arrests. Israelis recently committed, after information from Europe began to flow to the tax authority as part of the procedure.
The first suspect, Yuri Gecht, a resident of Tel Aviv, was arrested by the authority on suspicion of not reporting that for about 15 years - from 2019 to 2004 - he held bank accounts in Luxembourg and Switzerland. It is suspected that NIS 64 million was deposited in these accounts, which generated a profit of NIS 8 million for Gecht. The arrest application indicates that Gecht did not report the accounts, or the earnings earned, on them. At the conclusion of his investigation, Gecht was brought to a hearing on the conditions of his release from detention, during which Judge Anat Yahav of the Tel Aviv Magistrate's Court responded to the request of a mole investigator in Haifa and the North and released Gecht on restrictive terms, including self-bail and bank guarantee.
The other suspect, Arie Levy, a resident of Haifa, was arrested on suspicion of failing to report five different bank accounts in Jersey Island amounting to NIS 12.8 million. It is suspected that from 2017 to the present, Levy did not report the existence of the accounts and also concealed from the tax authority the income derived from interest on the funds. Levy was brought to a hearing on conditions of release from detention before Judge Gil Kerzbum of the Haifa Magistrate's Court, and released to his home under restrictive conditions.
The new arrests are, as mentioned, joining the first arrests made recently after receiving information from European countries about Israelis holding funds and financial assets there.
Last month, the Tax Authority arrested three Israelis - Aharon Winkler, a resident of Tel Aviv, Vishay Tzur and Maya Bankov-Tzur, residents of Kibbutz Mishmar Haemek - on suspicion of failure to report overseas bank accounts and other tax offenses, after their names were included in the list of bank account holders. Abroad accepted by agreements and exchange of information between European countries and tax authorities in accordance with the CRS procedure. Following them was also arrested Ruth Barbara Slater, a resident of Ramat Hasharon, suspected of failing to report bank accounts in Canada amounting to NIS 3 million.
The investigations against the three suspects and other undercover investigations are currently underway in light of the entry into force of the CRS Regulations, which provides Israel with financial information on Israel's finances and accounts across Europe. This is part of the international exchange of information and the global trend of recent years, in which the world is becoming financially transparent and the illegitimate tax havens are becoming extinct.
In addition, the Tax Authority now has detailed information under the FATCA, under which the tax authority in Israel began to transmit information to its U.S. counterpart (IRS) on financial assets of citizens with affinity to the United States; and, in return, to obtain information about Israelis with U.S. accounts.