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Israel Unveils Comprehensive Plan to Combat Serious and Organized Crime, Money Laundering
The Israeli government has launched a groundbreaking initiative to target illicit proceeds and combat serious and organized criminal activity. This combined effort involves enforcement, legislation, regulation, and intelligence agencies working together to tackle money laundering, terrorist financing, and other forms of serious crime.
Key Agencies Unite
Led by the Attorney General, the initiative brings together key agencies such as:
- State Attorney’s Office
- Israel Police
- Tax Authority
- Securities and Exchange Commission
- Anti-Trust Authority
- IMPA (Israel Money Laundering and Terror Financing Prohibition Authority)
The goal is to enhance coordination and cooperation among these entities to combat serious crime.
Implementation Committee
A lower-level implementation committee has been set up to oversee the operationalization of the plan. The committee, chaired by the Head of the Criminal Investigation Department at the Israel Police, includes heads from various police units, district attorneys, and representatives from:
- Tax Authority
- Prison Service
- Securities and Exchange Commission
- Anti-Trust Authority
- IMPA
Sub-Committees
The implementation committee is divided into several sub-committees, each focusing on specific areas such as:
- Operational coordination
- Intelligence gathering
- Legal issues
- Training
- Performance measurement
These sub-committees meet regularly to discuss ways to enhance the effectiveness of the interagency combat against serious and organized crime and money laundering.
Key Components
The plan includes several key components, including:
- Nine multi-agency task forces targeting specified criminal organizations or phenomena
- An Intelligence Fusion Centre for cross-referencing information and exposing multi-domain criminality
- AML staff units in the Police and Tax Authority to provide support, training, and IT development services
- Designated financial teams in each regional office of the State Attorney’s Office
- The Academy for Interdisciplinary Enforcement Studies, which researches and disseminates policy and research products
International Cooperation
Israel has also become part of various anti-money laundering networks, including:
- Egmont Group
- Moneyval
- FATF
The country has committed to undergo a mutual evaluation by FATF and has endorsed its recommendations on combating money laundering and terrorist financing.
Additional Measures
Section 9 of the PMLL requires individuals and businesses to declare and disclose cash border transportation and other negotiable instruments.
Conclusion
Israel’s comprehensive plan is aimed at strengthening international cooperation, enhancing information exchange, and promoting a coordinated effort to combat serious and organized crime. By bringing together various agencies and stakeholders, Israel is taking a significant step towards eradicating money laundering and terrorist financing, ultimately protecting its financial system and national security.