Scandal at Bank Hapoalim – what its employees were caught doing
Israel's financial sector is shaken by a new scandal related to the leak and protection of personal data. An inspection initiated by the Bank of Israel's banking supervisor department revealed flagrant violations in the activities…
Assessment
A routine inspection by the Bank of Israel's banking supervision unit has uncovered systematic forgery of client signatures by employees at Bank Hapoalim. The forgery was used to gain unauthorized access to a national credit data registry, a database designed to foster competition in household lending. This breach raises serious questions about internal controls at one of Israel's largest financial institutions and the security of sensitive citizen financial information.