Israel’s largest bank admits to helping taxpayers use offshore accounts, facilitating FIFA conspiracy

Bank Hapoalim agrees to pay the United States more than $900 million in connection with the two cases.
A woman uses an automated teller machine (ATM) outside a Bank Hapoalim branch in Tel Aviv, Israel May 30, 2013. REUTERS/Nir Elias/File Photo - S1BEUKNLJRAA
A woman uses an automated teller machine outside a Bank Hapoalim branch in Tel Aviv, Israel, May 30, 2013. - REUTERS/Nir Elias/File Photo
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

The Treasury Department today announced that Bank Hapoalim, Israel’s largest bank, has agreed to pay the United States more than $900 million to resolve two high-profile cases.

First, the department announced that criminal charges had been filed against the bank for its participation in a conspiracy with US taxpayers and others to hide more than $7.6 billion in more than 5,500 secret Swiss and Israeli bank accounts and related income from the IRS.

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