Israel’s Largest Bank Agrees to $874 Million Penalty with U.S. over Tax Crimes

On April 30, 2020, the U.S. government announced the guilty plea of Bank Hapoalim (Switzerland) Ltd. and filing of criminal charges against Bank Hapoalim B.M. for conspiring with U.S. taxpayers and others to hide more than $7.6 billion in more than 5,500 secret Swiss and Israeli bank accounts and the income made from these accounts from the Internal Revenue Service.[1]