A clampdown on tax evaders has begun at Israel Discount Bank, which is demanding that foreign customers declare that the money in their bank accounts has been duly reported to the tax authorities in their home countries.
Globes on Tuesday quoted sources saying that as of now the bank is only requiring the declaration from new customers and from current customers who are making new money transfers into their accounts. Discount Bank would only say in response, “We don’t disclose information about the bank’s customers.”
Discount began implementing the new policy a few weeks ago, when CEO Lilach Asher-Topilski took up her post.
Bank Hapoalim is also reportedly making a similar demand from European customers who are making large transfers.
It was noted that the banks are not required by regulators to do demand such declarations.
However, it appears that the banks are taking precautionary action, lest they be held responsible for money that has gone unreported.