Article

2022-09-16 Israel-Palestine-Jordan

Financial offenses tied to terror funds, organized crime in Israel soared in 2021

A bit dry, but somebody will find the information useful, I imagine.

[IsraelTimes] Report by government agency highlights efforts to combat ’increasingly sophisticated’ methods of financial crime

A report by a government agency released Wednesday found a sharp increase in financial crimes connected to organized crime and terror financing in 2021 over the previous year’s figures.

According to the Israel Money Laundering and Terror Financing Prohibition Authority, which operates under the Justice Ministry, organized crime’s share of all financial crimes grew from 6.8 percent in 2020 to 19% in 2021.

Organized crime in the Arab sector has become a severe problem in recent years. The scarcity of financial services for many Arab Israelis has seen criminal organizations stepping into the vacuum and offering black market loans and other services to Arab citizens, generating funds for these groups and contributing to their growing power and increasing violence.

In addition, the report found that terror financing also grew as a percentage of financial crimes in Israel from 9% in 2020 to 14.6% in 2021.

Fraud, deceit, and counterfeiting comprised the largest part of financial crime in 2021 at 23%, while tax crimes (11.2%), bribery and corruption (8.7%) and the drug trade (4%) were the other major realms of such crime.

These crimes were carried out through a variety of measures, most prominently international financial transactions (18.7%), cash payments (12.8%) and the provision of criminal financial services (12.3%).

Posted by trailing wife 2022-09-16 01:17|| E-Mail|| Front Page|| [11134 views ] Top

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