Regulatory Alerts2023-07-12
Central Bank of Libya Circular 2010/1 on Verification of International Shipping Documents for Anti-Money Laundering
The Central Bank of Libya mandates commercial banks to verify international shipping documents and participate in the International Maritime Bureau's information network. This directive addresses money laundering risks by ensuring banks validate documents submitted for foreign currency transfers, thereby reducing exposure to incorrect submissions. Full compliance and the implementation of necessary internal measures are strictly required.
Share