Lebanon FATF GREY list explainedTime line 2010-2015
*Lebanon was under FATF monitoring for deficiencies in AML/CFT (Anti money laundering & counter terrorism financing),
*Concerns included weak enforcement, lack of beneficial ownership transparency, and issues with terrorism financing oversight,2016
*FATF acknowledged Lebanon significant progress in AML CFT régime.
*Lebanon was removed from FATF monitoring process (not on the GREY LIST at that time,
*Essentially FATF considered that Lebanon has fixed earlier deficiencies
2016-2023
*Lebanon remained off the Grey list *However , the financial collapse (2019 onward) and growing reliance on cash-based economy created new risks.
*International Partners (IMF/EU) started pressing on Lebanon to update laws on banking secrecy , beneficial ownership and terrorism financing.Octobre 25,
2024FATF officially placed Lebanon on the GREY LIST (“jurisdictions under increased monitoring”)
Main Reasons:
*Cash dominated economy
*Weak judicial follow up
*Terrorism financing Risk (notably Hezbollah)
*Gaps in transparency and oversight 2025
*Lebanon remains on the Grey list “Parliament (April 2025) passed major banking secrecy reforms , retroactively allowing access to 10 years of records *Central Bank issued new AML CFT measures (March -April 3025)*FATF granted Lebanon an extended period until 2026 to complete reforms given conflicts and economic crisis
*Target (by end of 2026)*Lebanon aims to exit the Grey list if FATF verifies Compliance with reforms and improved enforcement.
Summary
*2016: Lebanon removed from FATF monitoring
*2024: Officially grey -listed
*2025: still on grey list , reform efforts ongoing