Prohibition on Money Laundering Law (Amendment – Prohibition of Collecting Protection Fees without a License) Bill

What does the bill do?

The bill adds to the Prohibition on Money Laundering Law offenses related to the licensing of security services, especially operating a security organizer or guard without a license. In this way, protection money paid by business owners to unauthorized parties will be treated as property derived from an offense. The penalty for this offense under the Prohibition on Money Laundering Law is up to ten years' imprisonment and forfeiture of the money. This bill serves the goal of preventing the use of proceeds from organized crime, and in particular aims to combat the widespread phenomenon of protection money collection in Israel.