Libya

New Documents

According to a report on asset declarations in Libya published by Transparency International, the country needs to develop a sufficient basis for conflicts of interest rules for public officials, increase the frequency of asset declarations and provide access to the public on asset declarations.

The U.S. State Department issued a press release concerning the creation of the Emergency Red List of Libyan Cultural Objects at Risk in collaboration with the International Council of Museums. The State Department noted that the goods are in danger of being trafficked by terrorist groups.

News

Enforcement Actions

0 Items Found


Important Facts

  • The U.S. State Department lists Libya as a monitored jurisdiction. The country's geographic location, porous borders and low law enforcement capacity make it an attractive point for narcotics trafficking, including hashish/cannabis and heroin. Markets are primarily cash-based. Bribery of border officials is common of migrants from sub-Saharan Africa and Egypt who move to or through Libya. Corruption and perceived corruption remain serious issues. Following the political unrest since the 2011 revolution, armed militias and tribes within Libya have frequently engaged in criminal activity for profit including theft, weapons trafficking and extortion. The U.N. Security Council passed Resolution 2213 in 2015, which imposes targeted sanctions against individuals and entities who undermine Libya's stability. Additionally, Libya is a source, destination and transit point for smuggled goods, including Libyan government-subsidized items such as fuel and food as well as black market and counterfeit goods from sub-Saharan Africa, Egypt and China.
  • KYC Covered Entities: Banks and financial institutions licensed by the Central Bank of Libya (CBL)
  • STR Covered Entities: Banks and financial institutions licensed by the CBL
  • Enhanced Due Diligence Procedures for PEPs: Foreign: N/A; Domestic: N/A
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: 0 (2015); Convictions: 0 (2015)
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i

Technical Effectiveness
Compliant : High :
Largely Compliant : Substantial :
Partially Compliant : Moderate :
Non-Compliant : Low :

BASEL i

Rank : N/A
Score : N/A

TRANSPARENCY INTERNATIONAL i

Rank : 168/180
Score : 18/100

Tax Justice Network i

Rank : 33/92
Score : 83/100