The Israel Money Laundering and Terror Financing Prohibition Authority (IMPA) has signed letters of intent with financial intelligence units of the US, India, and Albania to collaborate on money laundering. The agreements were signed following a conference in Germany of the Egmont Group of Financial Intelligence Units, an organization of 127 financial intelligence units. IMPA director Paul Landes serves as the vice chairman of Egmont's operative committee.
The letters of intent provide for collaboration and the sharing of intelligence between the parties to improve their intelligence and enforcement capabilities. IMPA has already signed letters of intent with scores of financial intelligence units, including agencies of Australia, Angola, Argentina, Belgium, Canada, Croatia, Cyprus, Denmark, Finland, Georgia, Luxembourg, Romania, Russia, and South Africa.
At the Egmont conference, IMPA promoted international projects, including cooperation with the US financial intelligence unit on information systems security of national financial intelligence units. The object is to create global standards for financial information security.
Ministry of Justice director general Dr. Guy Rotkopf said, "This is another important step in expanding international cooperation between national money laundering agencies, which is expected to strengthen financial enforcement in Israel and other countries."
Published by Globes [online], Israel business news - www.globes-online.com - on July 25, 2011
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