How close is Lebanon to being added to FATF grey list for money laundering?
The Paris-based Financial Action Task Force (FATF) is considering adding Lebanon to its ‘’grey list’’ of countries that enable money laundering by terror groups.
PARIS — The international crime watchdog Financial Action Task Force (FATF) is considering adding Lebanon to its "grey list" of countries that require special scrutiny to counter money laundering, terrorist financing and proliferation financing.
Last June, Lebanon managed to avoid being added to the grey list, but that will probably not be the case at the upcoming FATF plenary session at the end of October, Politico reported on Monday. Politico’s report stressed that discussions within the organization are now focused on the conditions Lebanon will have to meet once added to the list in order to be removed from it in the future. In other words, the organization is now debating which reforms or action plans Lebanon will be asked to put in place to stop money laundering by terror groups.
A Western diplomatic source confirmed to Al-Monitor that the addition of Lebanon to the grey list seems imminent, as Lebanon, said the source, clearly faces money laundering problems.
Anticipating this risk, Lebanon's acting central bank governor, Wissim Mansouri, said on Thursday that the "FATF will issue a decision this coming fall and we are still working hard to prevent Lebanon from being placed on the grey list."
