BEIRUT >> Israel’s military announced Sunday it is now taking aim at the Lebanon-based Hezbollah’s financial arm and will attack a “large number of targets” in Beirut and elsewhere. Explosions began in Beirut’s southern suburbs about an hour later.

Evacuation warnings affected southern Beirut, the eastern Bekaa valley and parts of southern Lebanon. Associated Press video showed strikes near Lebanon’s only airport but it continued to operate.

The strikes will target al-Qard al-Hassan “all over Lebanon,” a senior Israeli intelligence official said. Al-Qard al-Hassan is a Hezbollah unit that’s used to pay operatives of the Iran-backed militant group and help buy arms, the official said, speaking on condition of anonymity in line with army regulations.

The registered nonprofit, sanctioned by the U.S. and Saudi Arabia, provides financial services and is also used by ordinary Lebanese. Its name in Arabic means “the benevolent loan,” and Hezbollah has used it to entrench its support among the Shiite population in a country where state and financial institutions have failed in recent years.

“It’s a big deal,” said David Asher, an expert on illicit financing who has worked at the U.S. Defense and State Departments and is now a senior fellow at the Hudson Institute.

“AQAH is a cash-based organization. The cash will be trash” in the event of strikes, he said, adding that it has large accounts with big Lebanese banks.

Al-Qard al-Hassan in a statement called the decision to target it a sign of Israel’s “bankruptcy” and assured customers it had taken “measures” to ensure their funds were safe. A stream of people left the areas surrounding its branches in Beirut.

In one evacuation notice, for the Choueifat area south of Beirut, the Israeli military mislabeled one target, causing confusion and panic. The location was labeled as Grand Cinema ABC Verdun, a theater in an upscale shopping mall in central Beirut more than 6 miles away.

A year of escalating tensions and frequent cross-border fire between Israel and Hezbollah over the war in Gaza turned into all-out war last month. Israel sent ground troops into Lebanon early this month.

Israel’s announcement came a day after U.S. Defense Secretary Lloyd Austin called civilian casualties in Lebanon “far too high” and urged Israel to scale back some strikes, especially in and around Beirut.

Israel has increased strikes on southern neighborhoods of Beirut known as the Dahiyeh, a crowded residential area where Hezbollah has a strong presence. It is also home to many civilians unaffiliated with the militant group.

In southern Lebanon, the Lebanese army said three soldiers were killed in an Israeli strike on their vehicle. There was no immediate comment on that from the Israeli military, which said it struck more than 100 Hezbollah targets in southern Lebanon in the past day and continued ground operations there.

Israeli strikes on homes in northern Gaza overnight and into Sunday left at least 87 people dead or missing, the territory’s Health Ministry said, as a large-scale operation continued against Hamas militants said to be regrouping.

The ministry said another 40 people were wounded in the strikes on the town of Beit Lahiya, which was among the first targets of Israel’s ground invasion nearly a year ago. The Israeli military said it struck a Hamas target.

The U.S. is urging Israel to press for a cease-fire in Gaza following the killing of Hamas leader Yahya Sinwar last week. But neither Israel nor Hamas has shown interest in such a deal after negotiations sputtered to a halt in August.