Israel: Authorities Suspect Gemachs Of Money Laundering

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The head of the Anti-Money Laundering and Terrorism Financing Authority in the Ministry of Justice, Dr. Shlomit Wagman-Ratner, said on Thursday afternoon 24 Sivan there are gemachs that there are money laundering funds: “There are gemachs that are used to launder money. The regulation of the sector in aspects of money laundering is in the interests of the legitimate gemachs, otherwise they will soon be unable to deal with the financial system. ”

According to her: “The Authority locates money laundering activity carried out through gemachs and sees the area as one of risk, and believes that it is necessary to impose restrictions on them to prevent money laundering and financing of terrorism, as exists on any other party that provides financial services.”

“In our assessment,” she adds, “the legal entities operating in the field will soon realize that regulation is their fundamental interest, since the risk management format by all the other financial institutions in Israel and around the world will lead to the other entities, seeing them as entities at risk and greatly reducing the financial services they will receive, and they will not be able to act in the local and global financial arena.”

(YWN Israel Desk – Jerusalem)




7 COMMENTS

  1. @RighteousJudgement: While I agree with others that this is probably just another patch to attack in Chareidim, your comment was just as stupid. Nobody said the gemachs are being blame for terror financing, it’s just that the unit deals with both money laundering AND terror financing.

    Before you comment, READ Read and READ AGAIN.

  2. My husband can tell you exactly what they do… & how they get caught. He has been in the anti money-laundering field for decades & specializes in international scamming, that often leads to terrorist activity. You’d be surprised how naive organizations are.