Lebanese Government Takes Significant Step in Fight Against Terrorism by Freezing Assets Linked to Terrorism
The Lebanese government has taken a bold step in its fight against terrorism by freezing assets linked to individuals and entities suspected of being involved in terrorist activities. This move is part of the country’s efforts to comply with international standards and regulations related to combating money laundering and the financing of terrorism.
Freezing Assets Linked to Terrorism
According to a recent announcement, the General Directorate of Internal Security Forces (ISF) has updated its electronic platform to include names listed on the national register of natural and legal persons suspected of being involved in terrorism or financing terrorist activities. This decision aims to prevent the transfer of funds and assets linked to these individuals and entities.
The ISF’s platform will now automatically flag any transactions or attempts to transfer funds or assets linked to individuals and entities listed on the national register, thereby preventing illegal financial activities.
Notification and Compliance
As part of this effort, the ISF has also notified “the specialized investigation agency” within 48 hours of freezing any assets or accounts related to these individuals and entities. This notification includes all available information regarding the frozen assets or accounts.
The move demonstrates the Lebanese government’s commitment to implementing effective measures to prevent the financing of terrorist activities and complies with international standards and regulations.
Assentify’s Solution for Streamlining eKYC Processes
In a related development, Assentify, a leading provider of digital experience hubs for businesses, has announced that its platform can help organizations streamline their electronic Know-Your-Customer (eKYC) processes while ensuring adherence to international standards and regulations.
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