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Lebanon Freezes 28 Bank A/Cs
World Economy

Lebanon Freezes 28 Bank A/Cs

Lebanon lifted banking secrecy on 28 bank accounts in 2015 as part of efforts to combat money laundering, terrorism funding, fraud and financial embezzlement, Albawaba reported. “Money Laundering/Terrorism Financing cases have become more complex. It said 432 cases were received, 101 from foreign sources and 331 from local sources. In 2015, 458 spontaneous disclosures were also handled many of which were related to Islamic State militants,” the Secretary-General of the Special Investigation Commission Abdul Hafiz Mansour said on the occasion of the release of SIC 2015 report. But the report did not disclose the names of the individuals or groups or their nationalities whose bank accounts were frozen, nor the total amount involved.

 

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