January 3, 2011, 12:43 PM ET

http://blogs.wsj.com/corruption-currents/2011/01/03/bank-hapoalim-fined-21-million-for-money-laundering-breaches/

Israel’s largest bank was fined 7.5 million shekels ($2.1 million) by the Bank of Israel for inadequately following anti-money laundering regulations.

Bank Hapoalim B.M. “took extensive steps” and corrected its problems, the Israeli central bank said in a statement. The fine was issued after an inspection in 2004 and an exam in 2007 found violations of the reporting requirements of the Prohibition on Money Laundering Law.

The bank, which didn’t immediately respond to a request for comment to its New York branch office, can appeal the decision within 30 days, according to the statement.