23 September 2024  

Lebanon on the grey list?

Lebanon is on the verge of being placed on the FATF grey list. What does this mean and what would be the implications?

The FATF conducted its audit on Lebanon during July and August 2023. It published the official report in December 2023 with recommendations. It gave Lebanon one year to fix them before putting it on the grey list. The time has passed and nothig was fixed. So will Lebanon be officially on the grey list? This is what the few coming days will reveal.

#fatf #greylist #lebanongreylist #inanutshellbymj #marijosamneh
 
13 June 2023  

Will Lebanon be on the Grey List of FATF?

– What is the Grey List?
– Who has the right to put a country on a Grey List?
– What are the implications of being on the Grey List?
– How to take off a country from the Grey List?

I answered these questions in this quick interview.

#inanutshellbymj #marijosamneh #fatf #compliance #amlcompliance

14 March 2023  

Companies owned or controlled by a “Sanctions Target” – by Marijo Samneh

When opening an account for an entity, it is important to know who is hiding behind it, in order to avoid working with sanctioned persons.
Therefore screening the names of the Ultimate Beneficial Owners is a must, prior to opening an account. If the company is owned or controlled by a sanctioned person, the account can clearly not be opened.
Which companies are considered owned or controlled by a “Sanctions Target”?
As per the EU laws, if a sanctioned person possess more than 50% of a company, the latter is considered owned by a “Sanctions Target”.
As per the US laws, if a sanctioned person possess 50% or more of a company, the latter is considered owned by a “Sanctions Target”.

#sanctions #sanctionscompliance #compliance #inanutshellbymj #marijosamneh