Scandal at Bank Hapoalim – What Its Employees Were Caught Doing

A Bank of Israel inspection found that employees of Bank Hapoalim systematically forged client signatures to access credit files. The bank admitted the violations, stating that employees often relied on verbal consent. The credit data registry contains information on more than six million citizens.

An inspection conducted by the Supervisor of Banks at the Bank of Israel revealed serious violations at Bank Hapoalim. Employees systematically forged client signatures to gain unauthorized access to their credit files in the special credit data registry. This registry was established by the state to promote competition in the loan market and contains information on more than six million citizens. The regulator requires explicit documented client consent before a request to the credit bureau. The bank's management acknowledged the problems, stating that employees often relied on verbal permission, ignoring the requirement for a physical signature. The bank emphasized that clients received digital notifications about the requests and has taken additional measures to ensure compliance with procedures.

Scandal at Bank Hapoalim – What Its Employees Were Caught Doing