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April 21, 2015 / 2 Iyar, 5775
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Report: Bank Leumi to Pay NIS 1 Billion in Fines to US for Suspected Money Laundering

Bank Leumi branch n Israel where wealthy US customers held secret accounts to avoid the IRS.

Bank Leumi branch n Israel where wealthy US customers held secret accounts to avoid the IRS.
Photo Credit: Miriam Alster/Flash90

According to a report that appeared in the Israeli Channel 2 news site Mako, Bank Leumi will be required to pay NIS 1 billion in fines to the US for suspected money laundering at its American branches.

The claim is that the US branches may have made transactions on American client’s accounts in the US branches, but not all taxes were paid as required by law.

The bank’s directors held a special meeting yesterday to agree to a compromise agreement with the US government, and pay the fine.

Banks not just in Israel but around the world are also under investigation by the US government for suspected money laundering, in violation of new US laws.

Credit Suisse was recently fined $2.5 Billion USD.

The Mako report states that Mizrachi-Tefachot and Poalim may also have to pay fines.

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8 Responses to “Report: Bank Leumi to Pay NIS 1 Billion in Fines to US for Suspected Money Laundering”

  1. I guess my fees will be going up…

  2. Nicky Hewie says:

    Sorry don’t know how to reach you except by doing this. Apologies if incorrect. Am v concerned about situ in Greece regarding views about Jewish people. I feel they’re not alone in being targeted which is even more worrying. Can a system be worked out and publicised to allow people to escape in safety to safety? Am just concerned for those that are scared and vulnerable.

  3. If laws are broken there needs to be consequences.

  4. … sorry, if a business has been operating legally and abiding by laws of the land all of this time – it is total bs that a ‘new law’ should have the ability to be retroactive … this is what it sounds like to me, this is simply another revenue generating effort and every bank should pack up and leave …

  5. I have a really good washing machine at home , mail me your dirty money and I will wash it for you , clean money is better than dirty money !

  6. The US is trying to get warrants to infiltrate banks to make sure they didn’t leave a paper trail. And anyone with a name Similar to a terrorist will have their money taken just to hold it in an high interest bearing account while the depositor proves that he’s not a terrorist threat. What was about to happen in Ukraine and Crimea.

  7. Gene Strong says:

    Obama has turned US banks into weapons for his own personal agenda.

  8. Gene Strong says:

    Obama has turned US banks into weapons for his own personal agenda.

Comments are closed.

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