Lebanon’s Internal Security Forces (ISF) have arrested three men on Monday, August 19, suspected of smuggling forged currencies into the country. The police discovered $829,000 in forged money during its raid on an apartment hotel in Beirut’s business district.
The money laundering operation was allegedly run by a Kuwaiti national, Zeid Khalaf Al-Itri, who delivered the funds to his two Lebanese counterparts—Mohammed Deeb Ismail and Hafez Zaki Munther.
The Financial Action Task Force (FATF), a G-7 arm entrusted with fighting money laundering around the world, has recently removed Lebanon from its list of non-cooperative countries in the fight against money laundering. FATF’s decision is expected to boost Lebanon’s prospects at attracting Foreign Direct Investments (FDI). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
