Israeli Newspaper Ha´aretz, Internet version, June 23rd,
2000:
Israel on black list of money
launderers
By Dov Alfon
Ha'aretz Correspondent
PARIS - On a list of 15 countries "encouraging money
laundering" published yesterday by a special investigative committee
originally set up by the G-7, Israel features prominently and may
face international sanctions in the coming months.
The publication of the list was preceded by three days of intense
negotiations between the United States, Japan and the European Union,
and was leaked to the French daily Le Monde which published it
yesterday. It is still unclear if the 26 nation Finance Action Task
Force (FATF), as the investigative committee is known, initiated the
leak or was forced to hasten the list's publication, which was
originally scheduled for Monday.
In addition to Israel, the "black list" includes Lebanon,
Liechtenstein, Russia, Panama, the Bahamas, the Cayman Islands, the
Cook Islands, Dominica, the Marshall Islands, Nauru, Niue, Panama,
the Philippines, St. Kitts and the Grenadines. The exclusive list was
chosen with diligence from a "gray list" which included 31 suspect
states, among them Cyprus, Gibraltar, Monaco, and Antigua.
The difference between the two lists is that the "gray" one
includes countries whose banking laws are tougher than those of
countries on the "black list."
According to a spokesman for the FATF, Israel is on the list of 15
because it lacks legislation to counter the laundering of crime
monies, including the fact that it does not require the declaration
of cash deposits, and also because of "controversial" figures given
by commercial banks. The spokesman added that Israel informed the
committee that it planned legislation on these issued for the next
month - a month too late for the FATF.
A source in the French Ministry of Trade told Ha'aretz yesterday
that the list in which Israel has found itself is "the worst club in
which to be a member in the international economy today.
