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Banking secrecy and its evolving challenges
  • Lebanon
  • 13 June 2014

The Lebanese authorities have managed to survive pressure from the global community to replace the Banking Secrecy Law, although they have enacted new laws and regulations and set up special commissions to combat money laundering, tax evasion and other criminal activities. However, a new challenge has emerged: as of July 2014, financial institutions must comply with the US Foreign Account Tax Compliance Act.

Obeid Law Firm
Obeid Law Firm
Alem & Associates
Alem & Associates