Regulatory Alerts2022-07-19 | 13460The Application of Law 347 Dated 6/8/2001 concerning the Regulation of Money Dealers
The Governor of the Central Bank of Lebanon issued Interim Decision No. 13460 to amend the Executive System of Law No. 347, updating due diligence procedures, record retention periods, and risk management protocols for money dealers. The decision mandates enhanced compliance officer appointments, group-level anti-money laundering and counter-terrorist financing programs, and standardized information exchange across branches and subsidiaries. It further aligns foreign operations with Lebanese requirements while permitting host-country flexibility, ensuring robust financial monitoring and legal evidence preservation.
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