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Lebanon \ Judicial System \ Special Investigation Authority Against Money laundering Easy printable page

  • Special Investigation Authority Against Money laundering
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General Description
The mission of the Special Investigation Commission is to investigate operations that are suspected to be money-laundering offences and to decide on the seriousness of evidence and circumstantial evidence related to any such offence or offences.
Constitutional Framework
On April 20, 2001, the Lebanese Parliament passed Law No. 318 on fighting money laundering. This law criminalizes the laundering of proceeds from crimes such as: the growing, processing and trading of narcotic plants; organized crime; terrorist acts, illegal arm trade; stealing or embezzling public or private funds or their appropriation by fraudulent means; and counterfeiting money or official documents. The said law defines money-laundering operations, and stipulates the fines and imprisonment penalties imposed on such offences. Under its provisions, the Special Investigation Commission (SIC) was established as an independent legal entity with judicial status. The SIC investigates suspicious transactions, decides on the seriousness of evidence, and has the exclusive right to lift banking secrecy, thus enabling the competent judicial authorities and the Higher Banking Commission to take the necessary measures.
(last updated: 17-August-2003)

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