Israel: Money Laundering: A Clean Break

Guy Harpaz*

*Corresponding author for this work

Research output: Contribution to journalReview articlepeer-review

Abstract

The Financial Action Task Force (the chief international agency against money laundering) blacklisted Israel (June 2000) as one of the 15 countries that fail to cooperate in the international efforts to combat money laundering. Soon after, the Israeli Parliament enacted the Prohibition on Money Laundering Law, 5760–2000 (the ‘Law’). The Law has far-reaching legal, economic and policy implications. This paper attempts to sketch the global backdrop against which the Law was adopted, analyse its provisions, expose its implications and draw attention to its pros and cons. It is structured along the following lines: the first section sets out the international campaign against money laundering. The second section describes the pressures exerted by the international community to persuade Israel to join the club of countries that counteract money-laundering operations. The third and fourth sections analyse the ratio legis of the Law and its provisions, respectively. In the fifth section an account is provided of the problematic aspects of the Law. The last section provides some conclusions that may be drawn at this early stage.

Original languageAmerican English
Pages (from-to)264-282
Number of pages19
JournalJournal of Money Laundering Control
Volume4
Issue number3
DOIs
StatePublished - 1 Jan 2001

Bibliographical note

Publisher Copyright:
© 2001, MCB UP Limited.

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