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...