Strasbourg, 06.01.2014 – In a report published today, the Council of Europe’s MONEYVAL Committee calls on Israel to improve its anti-money laundering regime, for example by extending it to designated non-financial business and professions, such as lawyers, notaries, accountants, auditors, tax advisors, real estate agents or dealers in precious metals and stones.
The report sets out an analysis of the implementation by Israel of international and European standards. The main findings can be summed-up as follows:
• MONEYVAL urges the Israeli authorities to promptly introduce legislation to address the lack of an anti-money laundering and counter terrorist financing regime for designated non-financial business and professions. This shortcoming is of particular concern with regard to the diamond industry, which is of great economic importance.
• Israel has secured convictions for both money laundering and terrorist financing on a regular basis. There has also been a substantial increase in the number of cases involving seizure of the proceeds of crime with a corresponding increase in the sums confiscated. (more...)