Basic Search  |  Summaries  |  Advanced Search

Violation Tracker Individual Record

Company: Bank Hapoalim B.M. and Bank Hapoalim (Switzerland) Ltd.
Current Parent CompanyBank Hapoalim
Parent at the Time of the Penalty Announcement subscribe to see this data field
Penalty: $616,910,000
Year: 2020
Date: April 30, 2020
Offense Group: financial offenses
Primary Offense: tax violations
Violation Description: Bank Hapoalim of Israel agreed to pay a total of more than $600 million in penalties to resolve criminal allegations by the Justice Department that it conspired with U.S. taxpayers to hide assets and Income in offshore accounts. The parent company entered into a deferred prosecution agreement while its Swiss subsidiary pled guilty. The bank also paid $37 million to the Federal Reserve and $220 million to New York State (see separate entries).
Level of Government: federal
Action Type: agency action
Agency: Justice Department Tax Division
Civil or Criminal Case: criminal
Prosecution Agreement: plea and deferred prosecution agreement
HQ Country of Current Parent: Israel
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data(click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.