About IMPA

 

IMPA was established in 2002 as a financial intelligence unit acting in accordance with the international rules concerned with the combat against money laundering prescribed by the FATF and is overseen in Israel by MONEYVAL. IMPA is an independent Intelligence Authority. As such, IMPA is an administrative unit that does not have investigative powers.


IMPA was established in 2002 as a financial intelligence unit acting in accordance with the international rules concerned with the combat against money laundering prescribed by the FATF and is overseen in Israel by the Council of Europe Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (MONEYVAL).
IMPA performs its mission in coordination with the Israel Police (IP), the Israel Security Agency (ISA) and the financial sector Regulators, and assists them in fulfilling their missions and enforcing the AML/CTF regime.
IMPA’s main added value is the ability to collect and interpret the financial information contained in its database - which facilitates the detection of suspicious entities who are involved in money laundering or terror financing activities. This function is achieved, inter alia, by means of analyzing a collection of information from various governmental and financial institutions, as well as information shared with peer Financial Intelligence Units (FIUs) in other countries. IMPA also serves as a center of research and legal information for money laundering and terror financing, and its employees are considered to be specialists in the collation, analysis and extraction of intelligence from raw data available to IMPA.
IMPA is an independent Intelligence Authority. It was designed and established in accordance with the model of a collection and analysis intelligence organization recommended by the FATF and the Egmont Group of FIUs. As such, IMPA is an administrative unit that does not have investigative powers. This, in order to protect the right to privacy on the one hand and to prevent the exploitation of financial institutions and other stakeholders for money laundering, on the other hand.
Accordingly, IMPA serves as a buffer between the financial sector and the investigative law enforcement authorities. IMPA only disseminates information to law enforcement authorities when it is deemed to be relevant to suspected money laundering or terror financing activities, as prescribed by law.
The IMPA led the process of Israel's acceptance to the FATF in 2018. In order to be accepted as an FATF member, Israel had to prove its adherence to the organization's high anti-money laundering standards. The IMPA led a national campaign that necessitated coordinating 7 government departments, 25 government agencies and 40 private sector entities. As a result, Israel ranked as one of the top three most effective countries in combating money laundering, having been previously been listed in the FATF's "blacklist". This prestigious achievement allows Israel to take a leading role in the global struggle against money laundering and terror finance, as well as contributes to Israel's attractiveness for investment and international financial activities.