Place de l’Étoile, in Beirut.(Credit: Yara Sarkis/L’Orient Today)
BEIRUT — The Lebanese Justice Ministry now requires notaries to implement enhanced measures against money laundering and terrorism financing, in accordance with Law No. 44/2015.Circular No. 1355, published Friday, aims to improve transaction traceability and curb arrangements that confer hidden control over assets or companies. From now on, any notarial operation — sales, purchases, leases, powers of attorney, and similar acts — must begin with the identification of the beneficial owner.A unified form will establish the identity of the owner or actual beneficiary, in line with civil and commercial registries as well as with the tax administration.'Know your customer'The circular also mandates verification and explicit reference to the origin of funds stated in the act. When financed by a bank, the bank and account must be...
BEIRUT — The Lebanese Justice Ministry now requires notaries to implement enhanced measures against money laundering and terrorism financing, in accordance with Law No. 44/2015.Circular No. 1355, published Friday, aims to improve transaction traceability and curb arrangements that confer hidden control over assets or companies. From now on, any notarial operation — sales, purchases, leases, powers of attorney, and similar acts — must begin with the identification of the beneficial owner.A unified form will establish the identity of the owner or actual beneficiary, in line with civil and commercial registries as well as with the tax administration.'Know your customer'The circular also mandates verification and explicit reference to the origin of funds stated in the act. When financed by a bank, the bank and account must be...
Israel continues attacks on southern Lebanon, demolishes buildings in Bint Jbeil