Israel’s Hapoalim Bank and its Swiss branch, according to the U.S. Attorney General’s Office, helped launder more than $20 million used to bribe FIFA officials.
Israel’s Bank Hapoalim and its Swiss subsidiary Hapoalim Switzerland Ltd. will pay the U.S. Treasury Department, the U.S. Federal Reserve System (FRS) and the New York State Financial Services Authority about $874 million in fines, including for participation in the scheme of money laundering used for bribes to FIFA officials. As reported on Friday, May 1, the news agency dpa, thanks to the payment of the fine to the bank that agreed to full cooperation with the investigation, it may be possible to avoid further criminal prosecution.
According to the U.S. Attorney General’s Office, banks Hapoalim and Hapoalim Switzerland Ltd. were found guilty of concealing a total of $7.6 billion in the 5,500 accounts in Israel and Switzerland.
According to a press release from the Prosecutor General’s Office, the banks admitted that some of their employees had been helping to launder more than $20 million used to pay bribes and kickbacks to football officials in a number of countries through offshore locations for five years, from December 2010 to February 2015. The amount of the fine, which, according to the U.S. Attorney General’s Office, the bank will have to pay only in connection with this particular offense, is $30 million.