IsraelThe Financial Action Task Force published a follow-up report that assesses the progress made by Israel since a 2018 assessment of the jurisdiction’s anti-money laundering and counterterrorist financing framework, highlighting new obligations with respect to wire transfers.
The Bank of Israel announced a draft circular that covers requirements related to managing anti-money laundering and counterterrorist financing risks derived from payment services and customer activity involving virtual currencies.
Ex-Goldman Sachs banker on trial in New York, German entrepreneur triggered multiple STRs, and more, in the midweek roundup.
Israel forces banks’ hands on crypto-related funds, Estonia warns of cryptocurrency sector’s vulnerability to financial crime, and more, in the weekly roundup.
Midweek Roundup: Former Swedbank CEO Faces Criminal Charges, NatWest’s Problems Grow, and More
According to the regulator, the Banking Corporations Sanctions Committee on anti-money laundering and counterterrorist financing issues fined the Tel Aviv, Israel-based bank for its failure to report unusual transactions to the Israel Money Laundering and Terror Financing Prohibition Authority.
The Banking Corporations Sanctions Committee of the Bank of Israel imposed a monetary penalty against the credit card company based in Tel-Aviv, Israel for violating multiple requirements of the Prohibition on Money Laundering Law, 5760-2000.
| Technical | Effectiveness |
|---|---|
| Compliant : 16 | High : 3 |
| Largely Compliant : 19 | Substantial : 5 |
| Partially Compliant : 4 | Moderate : 3 |
| Non-Compliant : 0 | Low : 0 |
| Not-Applicable : 1 |
Israel's technical compliance was re-rated in a May 24, 2022 follow-up report.
| Rank : 14/110 |
| Score : 3.83/10 |
| Rank : 36/180 |
| Score : 59/100 |
| Rank : 38/133 |
| Score : 59/100 |