The issue focused on Israel's financial interests in Arab countries and political activities. In 2012, government lawyers filed lawsuits against seven Israeli banks for illegal sales of foreign currency to Iran. The courts rejected the lawsuit as fraud.

Now that Justice Minister Avigdor Lieberman has ordered prosecutors to investigate financial crimes committed by financial firms with ties to Iran, legal experts say prosecutors may need to apply criminal laws more broadly.

In court papers filed earlier this month, prosecutors charged financial companies including Banco Santander (BS