Search Results for: Lebanese

Money launderers continue to develop layering techniques to insert criminal proceeds into legitimate financial transactions, and these typologies are becoming increasingly varied.

‘Cuckoo smurfing’ is one new technique attracting attention, for instance, said a briefing note from Australian FIU Austrac (1).…

The professional life of a money laundering reporting officer (MLRO) is of critical importance to the organisations that they serve, but many of their colleagues in separate roles maybe unaware of what happens in the typical day of an MLRO. Shilpa Arora, Senior Director of Anti-Financial Crime Segment Solutions at ACAMS (Association of Certified Anti-Money Laundering Specialists) stressed that a key element of MLRO work is not necessarily actively hunting down dirty money flows, but consultation.…

The Muslim world is extremely diverse culturally, so it is no surprise that colour cosmetics trends are many and varied. However, one clear universal trend is that Muslim women are on average becoming more knowledgeable about make-up, especially with internet influencers spreading advice on products and techniques.…

Global haircare brands are starting to recognise a gap in the Muslim market as they launch products for hijab-wearing women and include them in marketing campaigns. L’Oréal’s Kérastase is the latest international brand to target this segment, having positioned its first anti-hair fall (loss) range, Genesis, to appeal to hijab-wearing women in Malaysia.…

A former DEA agent who laundered money undercover to attack the Medellín and Cali cartels has called for a root-and-branch reform of AML, so that its vast resources target the most suspicious transactions and the professional launderers who facilitate them. Speaking to MLB, Robert Mazur, who offered ML services to drug kingpins such as Pablo Escobar in the 1980s and 1990s to undermine their criminal networks, said that many laundering techniques used then are still in use today.…

A friend from Syria once told me of a 20-year-old man, an only child, who left his country, having been ordered to emigrate by his father in fear of the frenzy and killing in his country’s civil war. He moved to the comparative calm of Beirut, Lebanon.…

The Covid-19 pandemic has delivered experience about how an external crisis – in this case health – that forces AML officers to work at home, poses challenges in maintaining professional excellence. According to the Bank for International Settlements’ Financial Stability Institute an estimated 300 million office workers worked from home in May 2020, including 90% of banking and insurance workers.…

WHILE the imposition of age limits on the consumption of tobacco and other nicotine products remains very much a national, and in some cases sub-national jurisdiction decision, there is no doubt that the general trend worldwide is for tighter restrictions on younger consumers, even if they are often tough to enforce.…

“Yes, to coexistence.” It sounds like a platitude – yet sometimes, it is simply a statement describing a most important principle of real life. This statement is written on the entrance of the Max Rayne Hand in Hand School in Jerusalem, that teaches Jews and Arab students side-by-side.…

Brief:

The Lebanese economy has been suffering from a set of complex crises that became acutely evident by the end of 2019. At that time, a dramatic financial system collapse started, affecting various aspects of public life. The damage caused by this crisis is examined by this paper.…