Israel accepted into global financial watchdog group

Israel has become the newest member to the Financial Action Task Force. (Screengrab)
Updated 10 December 2018
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Israel accepted into global financial watchdog group

  • Israel says Monday that its acceptance into the group will allow it to take an active role in global policy-making on the issues
  • The group has in the past given Israel’s archenemy Iran ultimatums over terrorism funding

JERUSALEM: Israel says it has been accepted as a member in a global money laundering and terrorism financing watchdog group.
The Financial Action Task Force is an intergovernmental group of some 35 countries based in Paris that sets international standards on terror financing and money laundering.
Israel says Monday that its acceptance into the group will allow it to take an active role in global policy-making on the issues.
In a statement, the FATF said Israel’s “experience and perspective will make a valuable contribution to our work to prevent the misuse of the financial system.”
The group has in the past given Israel’s archenemy Iran ultimatums over terrorism funding, warning of deeper economic isolation if it doesn’t comply.


Palestinian leader Mahmoud Abbas will refuse Israeli tax transfers

Updated 8 min 36 sec ago
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Palestinian leader Mahmoud Abbas will refuse Israeli tax transfers

RAMALLAH, West Bank: Palestinian President Mahmoud Abbas says he will not accept a monthly tax transfer from Israel if it carries out its decision to deduct amounts the Palestinians pay to the families of prisoners and people killed in fighting with Israel.
Abbas on Wednesday accused Israel of trying to put political pressure on him and violating longstanding economic agreements.
He said it would be the “final nail in the coffin” of those agreements and said he would not accept the funds if even “one penny” is deducted.
The monthly tax transfers cover about two-thirds of the Palestinian budget.
Without those funds, Abbas’ autonomy government will fall into a crisis and not be able to pay full salaries to its tens of thousands of employees.