Client updates / AML

Significant Sanctions: Anti-Money Laundering Obligations in Israel

8 May 2024 / Anat Shubat, Shir Rozenzweig

The Israel Securities Authority is tightening enforcement on companies, especially in the cryptographic assets sector, and is scrutinizing companies’ anti-money laundering procedures and policies and their implementation.

See full article >

Categories: Blockchain | Capital Markets | Compliance | Enforcement

Amendment to Israel’s Anti-Money Laundering Law

3 April 2022 / Zvi Gabbay, Ben Norman

At the end of March 2022, the Israeli Ministry of Justice published a draft amendment to the Prohibition on Money Laundering Law.

The proposed amendment seeks to grant supervisory authority to the Israel Money Laundering and Terror Financing Prohibition Authority (IMPA), comparable to that of the Capital Market, Insurance and Savings Authority (CMISA), over financial service providers for aspects of the prohibition on money laundering and terror financing.

See full article >

Categories: White Collar

Do You Own Crypto? AML Order Also Applies to Digital Currencies

12 December 2021 / Andrey Yanai, Avihai Tal

For the first time, companies providing virtual currency services will be required to comply with Israeli anti-money laundering provisions. This follows an amendment to the Prohibition of Money Laundering Order that recently came into effect. The amendment will apply to financial asset service providers obligated to hold a license under the Control of Financial Services Law.

See full article >

Categories: Capital Markets | Capital Markets Regulation | FinTech

Search by Practice

Client updates / AML