Ministry clamps down on lawyers, accountants to halt terror financing

The Justice Ministry implemented on Wednesday an amendment to a law that places heavy obligations on lawyers and accountants dealing with possible financing of terrorism and money laundering.

The amendment to the 2000 law governing terrorism financing and money laundering issues creates new obligations for lawyers and accountants to scrutinize the identity and business purposes of their clients in at least five distinct areas.

These areas are real estate; the buying and selling of a business; administration and operation of assets and funds; the handling of funds relating to corporate administration; and establishing corporations or trusts.

Source: http://www.jpost.com/Israel-News/Politics-And-Diplomacy/Ministry-clamps-down-on-lawyers-accountants-to-halt-terror-financing-415050

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