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Israel joins anti-illegal funding body FATF

Israel has been accepted as a member of a global inter-governmental body dedicated to combating money laundering and terrorism financing. The step could help it influence policy against regional foes, the Justice Ministry said on Monday. The Financial Action Task Force (FATF) confirmed Israel’s inclusion as its 38th member. Israel’s arch-foe Iran has been under scrutiny from the Paris-based organization, Reuters said. Israel has also lobbied world powers to help cut funding for Hezbollah and Hamas, its Lebanese and Palestinian enemies. Shlomit Wagman-Ratner, head of the Justice Ministry’s anti- money laundering and terrorism financing department, said joining the FATF was a national strategic objective. It would allow the Israeli financial sector to function more easily in the international economy, she said.