Regulatory Alerts2024-02-15 | 13619Intermediary Decision No. 13619 Amending the Regulations on Monitoring Financial and Banking Operations to Combat Money Laundering and Terrorist Financing
The Acting Governor of the Central Bank of Lebanon issued Intermediary Decision No. 13619 to amend Article 10, Item 4 of the national system for monitoring financial and banking operations against money laundering and terrorist financing. The amendment mandates the establishment of two dedicated departments within the Verification Unit to oversee anti-corruption and bribery compliance, outlining eight specific duties that include policy formulation, risk-based account monitoring, enhanced due diligence, and targeted staff training. These measures directly address high-risk corruption-related money laundering crimes identified in recent national assessments and require continuous reporting to the Special Investigation Commission.
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