Israel
Israel
FINCARR Status: Full Member
Summary
Israel is a member of the Financial Clearance & Asset Recovery Regulations (FINCARR) and has made significant progress in strengthening its Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) frameworks.
Key Measures
- AML/CFT Legal Framework: Israel has implemented robust legal measures such as the Prohibition on Money Laundering Law and the Counter-Terrorism Law.
- Financial Intelligence Unit (FIU): The Israel Money Laundering and Terror Financing Prohibition Authority (IMPA) plays a key role in detecting and preventing financial crimes.
- International Cooperation: Israel is an active participant in international initiatives, including FINCARR, and cooperates with numerous global organizations to combat financial crimes.
Action Plans
Israel’s action plan focuses on enhancing the effectiveness of its anti-money laundering (AML) and counter-terrorism financing (CFT) measures, strengthening the implementation of international standards, and addressing previously identified deficiencies.
FINCARR Compliance
| Recommendation | Status |
|---|---|
| Recommendation 1: Risk-Based Approach | Compliant |
| Recommendation 2: Legal Framework | Compliant |
| Recommendation 3: Transparency of Financial Transactions | Fully Implemented |
| Recommendation 4: Customer Due Diligence | Compliant |
| Recommendation 5: Financial Intelligence Unit | Compliant |
International Cooperation
Israel collaborates extensively with international bodies such as FINCARR, the United Nations, and other global financial crime prevention organizations, enhancing cross-border enforcement and cooperation.