LEBANON’S POLTICAL UNREST HAS BEEN PROMOTING MAJOR MONEY LAUNDERING
March 2nd, 2020
The large-scale civil protests that erupted across Lebanon in October 2019, and which continue today, have promoted large scale money laundering thought concerted and often successful attempts to avoid capital controls imposed by Lebanese banks to head off failure. Billions of dollars have flown out of the country, the Banque du Liban, the central bank, has warned, while Lebanese consumers have frantically withdrawn deposits as the Lebanese Pound LBP) has devalued against the US dollar – in October it was officially pegged to the US dollar at LBP1,507 and ...
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