I am not so sure it will be legal, at least for US were I think majority of users come from. Did you know that US sued (in US courts) the Switzerland bank for not disclosing that one of their customers was an American and not surprisingly US won and (maybe more surprisingly) eventually the bank paid the fine? Of course all the banking was done in Switzerland, but still US could intervene. So it seems that US can prosecute you no matter were you do your banking. I am not sure on what Israel may or may not do.
This article is on a different but closely related story:
https://www.huffingtonpost.com/2011/09/04/us-switzerland-tax-dodging-sue-banks_n_948362.htmlBut that is because the US citizens need to pay taxes to the US government because the law in that country force you pay because of your citizenship and not for residence as it is the case for most countries around the world, which is one of the reasons why more Americans than ever are giving up their citizenship but I'm sure they will change that law in the future and they will charge you taxes based on where you were born since that is something that you cannot change.