Here is the article rewritten in Markdown format:
Lebanon’s AML/CFT Regulations: A Country-by-Country Breakdown
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A recent report evaluating Lebanon’s anti-money laundering (AML) and combatting the financing of terrorism (CFT) regulations has shed light on the country’s compliance with international standards. The Mutual Evaluation 2023, conducted by the Financial Action Task Force (FATF), assesses Lebanon’s progress in implementing the technical requirements of the FATF Recommendations.
Lebanon’s Compliance: A Breakdown
According to the report, Lebanon has made significant strides in addressing various aspects of AML/CFT regulations. Here is a country-by-country breakdown of Lebanon’s compliance with each of the 40 FATF Recommendations:
Recommendation R.1-R.R.40
- R.1: Assessing Risk and Applying a Risk-Based Approach: Largely Compliant (LC)
- R.2: National Cooperation and Coordination: Largely Compliant (LC)
- R.3: Money Laundering Offence: Partially Compliant (PC)
- R.4: Confiscation and Provisional Measures: Largely Compliant (LC)
- R.5: Terrorist Financing Offence: Largely Compliant (LC)
- …and so on until…
- R.40: Other Forms of International Cooperation: Largely Compliant (LC)
Challenges Remain
The report notes that Lebanon has made significant progress in implementing the FATF Recommendations, but still faces challenges in certain areas. The country’s AML/CFT regulations are considered “largely compliant” (LC) or “partially compliant” (PC) in most cases, with only a few recommendations classified as non-compliant.
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