Key Documents

October 20, 2003

October 16, 2008

August 22, 2011

September 24, 2007

April 5, 2012

May 21, 2011

July 4, 2001

August 18, 2005

Important Facts

The U.S. Department of State labels Lebanon as a major money laundering jurisdiction. Domestically, there is a black market for cigarettes, cars, counterfeit consumer goods, pirated software, CDs, and DVDs. However, the sale of these goods does not generate significant proceeds that are laundered through the formal banking system. In addition, the domestic illicit narcotics trade is not a principal source of laundered funds. A number of exchange houses are reportedly used to facilitate money laundering and terrorism financing, including by Hezbollah, which the United States has designated as a terrorist organization. Lebanese expatriates in Africa, the Gulf, and South America have established financial systems outside the formal financial sector, and some are reportedly involved in trade-based money laundering schemes. International trade also facilitates counter-valuation between Lebanese hawaladars.

-Source: 2018 International Narcotics Control Strategy Report (INCSR).

KYC covered entities:Banks, financial and lending institutions, money dealers, financial brokerage firms, leasing companies, mutual funds, insurance companies, real estate developers, promotion and sales companies, high-value goods merchants, and money remitters
STR covered entities:Banks, lending institutions, money dealers, financial brokerage firms, leasing companies, mutual funds, insurance companies, real estate developers, promotion and sales companies, casinos, money remitters, auditors appointed at financial institutions, high-value goods merchants, public notaries, attorneys, and accounts
Enhanced due diligence procedures for PEPs:Foreign:YESDomestic:NO
Money laundering criminal prosecutions/Convictions: Prosecutions:12: (January - October, 2015); Convictions:0

-Source: 2016 International Narcotics Control Strategy Report (INCSR).

Rank : 61/141

Score : 5.33/10

Rank : 149/179

Score : 25/100

Rank : 26/133

Score : 64/100