Regulatory Alerts2018-09-19 | 12874Central Bank of Lebanon Decision No. 12874 Amending the Regulations on the Control of Financial and Banking Operations for Fighting Money Laundering and Terrorist Financing
The Central Bank of Lebanon issued Decision No. 12874 to amend the existing regulations on combating money laundering and terrorist financing by introducing a new Article 5 bis. This amendment mandates that banks must immediately notify the Special Investigation Commission whenever they freeze accounts, refuse transactions, or deny account openings based on anti-money laundering laws. The decision entered into force immediately upon its issuance on September 19, 2018, and was published in the Official Gazette.
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