Migdal Top Real Estate has petitioned a court to order Bank Leumi to disclose the identifying details of an account that received 3.8 million shekels, alleging the transfer was based on forged vouchers purporting to be from the Tel Aviv Municipality. The company says the bank refused to provide the information, citing bank secrecy.
The petition, filed by Migdal Top Real Estate, centers on a 3.8 million shekel transfer that the company alleges was made under fraudulent pretenses. According to the company, the funds were transferred after receiving forged vouchers that appeared to be from the Tel Aviv Municipality. When the company discovered the fraud and requested Bank Leumi to provide the identity of the account holder, the bank declined, citing banking secrecy laws. The court has not yet ruled on the request. The case highlights the challenges companies face in recovering funds from fraudulent transactions when banks assert confidentiality protections.
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