The 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.
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.
|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|