The logo of FATF ( Financial Action Task Force), an international financial crime watchdog. (Credit: AFP/File photo)
FATF (Financial Action Task Force), an international financial crime watchdog, refrained from placing Lebanon on its "grey list" of countries facing special scrutiny, based on a statement issued Friday — though preliminary assessments had raised concerns it would be.
Three sources familiar with the matter told Reuters in May that Lebanon was likely to be placed on the FATF's list due to unsatisfactory practices to prevent money laundering and terrorism financing.
The modified list announced Friday after the watchdog's June meeting did not cite Lebanon. Neither did officials from the watchdog mention the country during a press conference after issuing their statement on the list.
During a preliminary evaluation the Middle East and North Africa section of the watchdog had scored Lebanon one mark over the threshold to be grey listed, a diplomatic source who saw the report told Reuters last month.
Lebanon was pitching to improve its score, the source also said.
crime watchdog, refrained from placing Lebanon on its "grey list" of
countries facing special scrutiny, based on a statement issued
Friday — though preliminary assessments had raised concerns
it would be.
Three sources familiar with the matter told Reuters in May
that Lebanon was likely to be placed...