Abdul Hafiz Mansour, head of the Special Investigation Commission at BDL. (The Daily Star/Hasan Shaaban)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Lebanon has seen a rise in the reported cases on suspicious money laundering and terrorism financing in 2015, demonstrating the vigilance of the Lebanese banks in combating these phenomena, the secretary-general of the country's Special Investigation Commission said.Mansour said that cases on terrorism financing in 2015 was higher than 2014; the same went for cybercrime cases, which grew significantly.However, the head of SIC insisted that despite the progress made by Lebanon in implementing the requirements of the international community in fighting terrorism financing and money-laundering activities, the country still needs to pass more processes, specifically the follow-up process on its 2009 Mutual Evaluation Report to become compliant with standards set by the Financial Action Task Force, an intergovernmental group.Mansour explained that in the wake of the growing threat of terrorism and terrorism financing (TF), and the identification of the phenomena of the foreign terrorist fighters (FTFs), FATF initiated in 2015 a review of 199 jurisdictions to assess their criminalization of terrorist financing and targeted financial sanctions.
Opposition mounts to proposed taxes
Contested waters to open for bids but drilling optional
One percent hold half of all bank deposits in Lebanon
FOLLOW THIS ARTICLE