Hizballah | Duhaime's Anti-Money Laundering & Financial Crime News

U.S. Attorney files complaint against Lebanese Canadian Bank in trade-based money laundering case

Tweet The U.S. Attorney has filed a money laundering complaint commencing an in rem forfeiture action against the Lebanese Canadian Bank and others, seeking penalties of US$446 million in connection with what it says was a money laundering scheme operated by the Bank. As part of the alleged scheme, funds were transferred from Lebanon to the […]

U.S. Treasury says bank with Canadian ties is a money laundering concern

Tweet The US Department of the Treasury today announced that it has designated the Lebanese Canadian Bank SAL and its subsidiaries as a “primary money laundering concern” under the Patriot Act, because it facilitates the laundering of money from drug trafficking and trade-based money laundering. The bank has an office in Montreal and maintains extensive correspondent […]