Financial Crime Trends in Israel 2022: Organised Crime’s Growing Share

A recent report by Israel’s Money Laundering and Terror Financing Prohibition Authority has shed light on a significant increase in the rate of financial crime linked to organised crime in the country last year.

Rising Trend of Financial Crimes Linked to Organised Crime

The report reveals that the share of all financial crimes attributed to organised crime surged from 6.8% in 2020 to 19% in 2021. This substantial increase highlights the growing significance of organised crime in Israel’s financial landscape.

Key Findings:

• The proportion of financial crimes linked to organised crime increased by 12.2 percentage points between 2020 and 2021.
• Organised crime was responsible for 19% of all financial crimes reported in Israel last year, up from 6.8% in 2020.

Impact on Israel’s Financial System

The rise of financial crimes linked to organised crime poses a significant threat to Israel’s financial stability and security. The growing trend is likely to have far-reaching consequences for the country’s economy and institutions.

What’s Next?

In light of these findings, it is essential for law enforcement agencies, regulators, and financial institutions to intensify their efforts to combat organised crime and prevent further escalation of financial crimes.

References:

• Israel’s Money Laundering and Terror Financing Prohibition Authority (2022). Financial Crime Trends in Israel 2021. [Report]