Smotrich against the appointment of Aharon Barak: "Netanyahu did this without consulting us - this is a mistake"/Knesset Channel
The banking system was caught in the eye of the storm this week and not because of another decree by the Treasury.
This time it is a serious matter concerning the enforcement of laws against money laundering and the fight against black capital.
This is the heart of intelligent risk management in banks.
When US President Joe Biden decided to impose sanctions on four settlers, including a resident of the Miter Farm outpost on charges of violence against Palestinians. Bank Leumi reacted immediately and was quick to freeze the accounts of Yanon Levy, a settler from the south of Mount Hebron who was included in the sanctions list.
The Postal Bank followed suit and later Bank Hapoalim, where the accounts of additional settlers are managed, may also go. Bank Hapoalim stated that "without referring to specific cases, the bank respects the international sanctions and will comply with any legal order."
The settler Yanon Levy whose account was frozen, with MK Sukkot. The latter was quick to attack/document on social networks according to Section 27 A of the Copyright Law
The banks will not take any risk of a conflict with the Americans because they are signatories to international treaties.
In the case of violating the agreements, they themselves may face sanctions such as banning the use of the SWIFT international money clearinghouse or American software and they have a bad history in this regard.
This does not bother Finance Minister Bezalel Smotrich and MK Zvi Sukkot. Because these are settlers, they attack the Americans and the banks and claim that this is an illegal move
. Legislation that will legalize the accounts. The banks have nothing against the settlers. The Mizrahi Tefahot Bank prevented businessman Roman Abramovich, whose banking activity was blocked, from donating through the bank 8 million shekels to the Zaka organization.
Legal advisor to the government Gali Beharve-Miara backed the bank, but Tel Aviv District Court Judge Jordana Sarosi acceded to the request of Abramovich and the Zaka organization, and ordered the transfer of her contribution. The bank was caught in a difficult dilemma and decided to appeal to the Supreme Court, lest the move be interpreted as a violation of sanctions.
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Smotrich.
Threatens to act to promote legislation that will legalize the accounts/image processing, Haim Goldberg/Flash 90
The bank has already suffered with the authorities.
The Sanctions Committee of the Bank of Israel decided about a year ago to impose a financial sanction of NIS 3.8 million on the bank for violating the Anti-Money Laundering Law, so does it have to get involved with additional fines?
In addition to this, last week the UNRA case arose with concerns that the humanitarian organization's funds were helping terrorist elements. Once again, Bank Leumi decided not to take prisoners and to block the agency's account following the reports of its involvement in the terrorist attack and fear of the money being used for terrorist purposes.
While the Minister of Finance is trying to round corners for political reasons Populism Even if this could harm the status of the system, the Bank of Israel fully backs the banks: "By necessity of their international activity, the banks are required to establish procedures for the use of sanctions lists of foreign countries.
Ignoring them could expose the banks to significant risks in the areas of compliance, money laundering and terrorist financing, legal risks and reputational risks."
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