Names released, fear spreads: Israel escalates 'financial war' on Hezbollah with latest targeting

Report by Edmond Sassine, English adaptation by Karine Keuchkerian

This was not just another isolated Israeli strike. The targeting of Haytham Bakri and two of his sons in the southern town of Kfar Dajjal on Tuesday was more than that. 

According to Israeli claims, Bakri is a money changer who heads the "Al-Sadiq" Currency Exchange, which the Israeli military alleges serves as financial infrastructure for storing and transferring funds to Hezbollah.

More alarming is that Israel did not stop at naming Bakri. It publicly released the names of five additional currency exchange companies and their owners, accusing them of channeling money to Hezbollah. 

Israeli reports claim the existence of networks moving funds from Iran to Lebanon via Iraq, Turkey, or the United Arab Emirates. 

Through these routes, the Quds Force of Iran's Islamic Revolutionary Guard Corps allegedly transfers millions of dollars to the six listed exchange firms.

Alongside these accusations and the strike on Bakri and his sons, the Israeli military also claimed to have killed Behnam Shahriyari in Iran — a Quds Force commander said to be responsible for transferring money to Hezbollah.

The publication of the names of the money changers and their companies operating in Lebanon has sparked fear among those listed, who now worry they may be targeted next.

Sources familiar with the matter note that the U.S. administration typically imposes sanctions on individuals and companies through formal procedures and communication with Lebanese authorities. But in this case, the naming and accusing of companies and individuals is being carried out unilaterally by Israel, with no oversight. 

Some of the accused money changers, the sources said, have been advised to contact Lebanon's central bank and the Banking Control Commission to request an investigation to verify their legal and financial standing, as well as to communicate with security agencies to demonstrate their compliance and to seek protection through the channels and contacts they rely on.

Israel's strikes on what it describes as Hezbollah's financial networks are not new, even if they now come in more public and escalatory forms. In April of last year, money changer Mohammad Srour was assassinated after being lured to Beit Meri. 

Investigations pointed to Mossad involvement amid reports he had been transferring funds from Iran to Palestinian factions.