Lebanon will amend existing anti-money-laundering laws to better combat terrorism funding, Central Bank governor Riad Salameh said Friday.
Salameh spoke at the opening roundtable discussion on recent procedures to stamp out money-laundering activity. He said the newly proposed amendments would be sent to Parliament for approval.
“These [amendments] are designed to buttress the monitoring of terrorism funding in accordance with the Lebanese laws and to organize the cross-border currency movement,” Salameh said.
“Lebanon, as in the case of neighboring countries, is subject to more auditing from the international community and most notably the United States and Europe.”
But Salameh did not elaborate on the proposed measures, and the Cabinet has already approved Salameh’s proposed amendments.
The United States is increasing its pressure on Lebanese banks to clean their balance sheets, improve supervision of all transactions and accounts, block any attempt to fund suspected terrorist organizations, and fully abide by strict international measures to combat money laundering.
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