Israel to work with France against money laundering, terror financing
The memorandum of understanding signed last week between Israel and France is just part of the very extensive battle championed by Israel’s Money Laundering and Terror Financing Prohibition Authority against criminal money laundering and financing of terror activities.
Paris — On Oct. 20, Israel’s Money Laundering and Terror Financing Prohibition Authority (IMPA) and France’s Intelligence and Action Against Clandestine Financial Circuits (TRACFIN) signed a memorandum of understanding (MOU) for better, deeper cooperation against money laundering.
The two countries signed in 2004 a basic agreement to cooperate in this field, but recent developments encouraged the parties to reach a more detailed MOU that covers technological and other changes in this crime field. Hence, representatives of both agencies will meet regularly to discuss developments concerning money laundering threats and terrorist financing, share information on a case-to-case basis and cooperate on analyzing the techniques used by criminals.
Last August, Israel arrested three suspects as part of an investigation into large-scale fraud against the French treasury and the theft and laundering of millions of euros with cryptocurrencies.
IMPA was established two decades ago. Since then, Israel has signed some 80 agreements with foreign countries to work together to thwart money laundering and terror financing.
