Israel: Report on the Observance of Standards and Codes—FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

International Monetary Fund

No 2005/211, IMF Staff Country Reports from International Monetary Fund

Abstract: This report assesses Observance of Standards and Codes on Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Israel. Israel has made significant progress in strengthening its regime for AML/CFT since 2000. Overall, a comprehensive legal and institutional framework for AML/CFT is now in place, and Israel complies well with the FATF 40+8 Recommendations. The assessment, nevertheless, identified a number of areas where the regime for AML/CFT could be strengthened, including the need to ensure more consistency among the relevant supervisory authorities in addressing AML/CFT problems.

Keywords: ISCR; CR; authority; CFT; Provide IMPA; financial institution; Israel money laundering Prohibition Authority; component implementation; AML legislation; Israel's AML provision; enforcement program; AML training; Anti-money laundering and combating the financing of terrorism (AML/CFT); Money laundering; Terrorism financing; Insurance (search for similar items in EconPapers)
Pages: 16
Date: 2005-06-23
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