Israel: Report on the Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

June 23, 2005

Summary

This report assesses Observance of Standards and Codes on Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Israel. Israel has made significant progress in strengthening its regime for AML/CFT since 2000. Overall, a comprehensive legal and institutional framework for AML/CFT is now in place, and Israel complies well with the FATF 40+8 Recommendations. The assessment, nevertheless, identified a number of areas where the regime for AML/CFT could be strengthened, including the need to ensure more consistency among the relevant supervisory authorities in addressing AML/CFT problems.

Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Banking, Crime, Financial institutions, Insurance, Money laundering, Terrorism financing

Keywords: AML legislation, AML training, Anti-money laundering and combating the financing of terrorism (AML/CFT), authority, CFT, component implementation, CR, enforcement program, financial institution, Insurance, ISCR, Israel money laundering Prohibition Authority, Israel's AML provision, Money laundering, Provide IMPA, Terrorism financing

Pages:
16
Volume:
2005
DOI:
https://doi.org/10.5089/9781451819588.002
Issue:
211
Series:
Country Report No. 2005/211
Stock No:
1ISREA2005003
ISBN:
9781451819588
ISSN:
1934-7685

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