Region: Israel

US Fifa investigation ensnares Israeli bank

US authorities are investigating Israel’s Bank Hapoalim as part of their wide-ranging probe of alleged corruption at world football governing body Fifa. The bank, which held accounts for a number of suspects in the Fifa investigation, confirmed to Israeli financial news publication Globes that it was cooperating with authorities.

11 September 2015

Israeli authority claims Siemens bribed officials

The Israeli Securities Authority says it has passed evidence to prosecutors that shows Siemens paid around US$20 million to officials at state-owned Israel Electric Corporation between 2000 and 2005 to win contracts.

16 July 2015

OECD criticises Israel’s lack of foreign bribery enforcement

The OECD has criticised Israel’s lack of foreign bribery enforcement after the country failed to prosecute any such cases in the past seven years, despite receiving 14 allegations of foreign bribery against Israeli companies and individuals.

25 June 2015

Bank of China faces money-laundering accusations in Italy

Italian prosecutors are seeking to indict the Bank of China and almost 300 individuals in connection with a money-laundering investigation. According to reports, prosecutors in Milan said over €4.

22 June 2015

Israel enforcer seeks to interview Siemens staff

Israel’s Securities Authority has asked to interview current and former employees of German engineering company Siemens as part of a bribery investigation of state-owned Israel Electric Corp, Israeli newspaper Calcalist reports.

09 April 2015

More countries threatening criminal probes into tax evasion

India and Israel are threatening to launch criminal investigations into the alleged use of Swiss bank accounts for tax evasion. FINMA, Switzerland’s Financial Markets and Supervisory Authority, said in its annual report that: “Germany, France, Belgium and Argentina have followed the US in launching high-profile criminal investigations, while Israel and India are threatening to do so.

08 April 2015

Former Israeli prime minister found guilty of corruption

Ehud Olmert, Israel’s prime minister from 2006 to 2009, has been convicted of taking bribes from a US businessman in return for political favours.

30 March 2015

Teva says FCPA violations “likely”

Israeli pharmaceuticals company Teva has discovered likely FCPA violations during an internal investigation, according to reports citing a company SEC filing. In 2012, the company opened an investigation after the US Securities and Exchange Commission and the Department of Justice sent subpoenas.

12 February 2015

US work-product and privilege protections under renewed scrutiny

Lawyers for Bank of China are attempting to overturn a judge’s order to hand over internal investigation documents after he ruled that the material failed to be protected by US work-product doctrine.

05 February 2015

Leumi asks for tax breaks after US fine

Bank Leumi has asked Israeli tax authorities to recognise a US$400 million US tax evasion fine as a tax-deductible expense, Israeli newspaper Haaretz reports. If successful, the bank could reduce its 2014 tax liability by between 250 million shekels (US$63.

30 January 2015

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