The committee of the Council of Europe, MONEYVAL, called on Israel to intensify its efforts to combat money laundering. In the report, the MONEYVAL calls on Israel to improve and expand the control systems for combating money laundering. In committee, the target of investigations by the Israeli authorities must engage with financial firms, lawyers, notaries, accountants, real estate agents and dealers in precious metals and stones, the activities of which is not the checks needed to prevent the crime of money laundering, as outlined.
The MONEYVAL expresses particular concern about the fact that there have been no legislation to address the shortage in the fight against money laundering and terrorist financing. This failure highlights the committee is particularly evident in the control of the activity of practitioners with industry and trade in diamonds, which has great economic importance.
It emphasized that no verification of the identity of beneficial owners and customers to provident funds, insurance companies and financial service providers, while stressing that there are no statutory requirements on political figures to justify the sources of their wealth.
By Nicole P.