LEBANESE-CANADIAN BANK DESIGNATED A PRIME MONEY LAUNDERING CONCERN
April 1st, 2011
BY PAUL COCHRANE
EARLIER this year, the Lebanese-Canadian Bank (LCB) was designated by the United States as a prime money laundering concern, for alleged connections to drug traffickers and acting as a financial conduit for Lebanese political party Hezbollah, which Washington considers a terrorist organisation. The action crippled the bank and highlighted necessary upgrades to Lebanon's anti-money laundering regime. Paul Cochrane reports from Beirut.
IN late January the US Treasury's Financial Crimes Enforcement Network (FinCEN) named Ayman Joumaa as a ...
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