Israeli Police: Gemachs Might Be Used for Money Laundering

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Head of the Police Investigations Division Eran Kamin warned that due to tightened regulations in all financial bodies except gemachim, the latter are being used for money laundering.

“The gemachim are often exploited for concealment –­ giving money at one place and getting it somewhere else, and it’s hard to follow when things are not regulated,” he said. “This is why the Capital Market Authority made regulatory legislation [for gemachim] whose implementation is being delayed, apparently due to political considerations. But I believe that it will be arranged. As with every issue of money laundering, we cannot allow the continued operation of unregulated financial entities.”

Dr. Shlomit Wagman-Ratner, head of the Authority for the Prohibition of Money Laundering and Terrorism Financing, said likewise that her authority identifies money-laundering activity carried out through gemachim and believed it necessary to impose regulations on them, like every other body that provides financial services.

{Matzav.com Israel News Bureau}

2 COMMENTS

  1. There is a beautiful ponim yofos which explains the sin of kivras htayvah. When klal yisroel was taken out of mitzrayim they had cattle. If so why were they complaining about a lack of meat? It was the Erev Rav who’s cattle were killed by the makkos. If so, why couldn’t the yidden share? The posuk says they remembered the fish. Fish are plentiful except in the desert where there is no body of water. So the issue was … what will happen when all the meat is consumed? The posek says tzadik ochel lisboah nofsho explains the ponim yofos because a tzadik is cognizant of the Gemorah man dyhev chai yhev mizonei. Those who are consistently worrying lack trust in HKB’H! That he explains is the sin of kivras htayvah!

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