Regulatory Alerts2024-09-01
Management of Anti-Money Laundering and Countering Financing of Terrorism Risks
The Bank of Israel issued Circular No. C-06-2794 to amend Proper Conduct of Banking Business Directive No. 411, allowing banking corporations to accept expired non-biometric ID cards for customer identification. This temporary measure, effective until January 31, 2025, addresses operational difficulties arising from the gradual expiration of such documents starting in August 2024. The amendment was implemented in coordination with the Population and Immigration Authority to provide relief to the banking system regarding financial conduct vis-à-vis customers.
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