The Department of Justice is deepening its probe into offshore tax havens by shifting focus from Swiss banks to Israeli banks. Three of Israel’s largest banks are now in the spotlight over suspicions their Swiss outposts helped American clients evade taxes, reports Reuters.
Bank Hapoalim, Bank Leumi le-Israel BM and Mizrahi-Tefahot face investigation
Israel, a major ally in the Middle East and the biggest recipient of U.S. aid — $3.1 billion last year, is presently in arms over the United State’s failure to immediately oppose Palestine’s UN bid for statehood. It remains to be seen whether this dispute will affect the bank probe.