I. Authorities and Resources

The Proceeds of Law 318 April 20, 2001(Fighting money Laundering) * Offences :

Law No. 318 criminalizes illicit proceeds that are derived from the following offences: 1. The growing, manufacturing, or trading of narcotics. 2. Acts committed by associations of wrongdoers, that are specified by Articles 335 and 336 of the Penal Code, and internationally identified as organized crime. 3. Terrorist acts, as specified in Articles 314, 315 and 316 of the Criminal Code. 4. To finance or to contribute to the financing of terrorism, terrorist acts, or terrorist organizations, in accordance with the concept of terrorism as defined in the Lebanese Penal Code. 5. Illegal arm trade. 6. The offences of stealing or embezzling public or private funds or their appropriation by fraudulent means, counterfeiting, or breach of trust, incumbent on banks, financial institutions, and institutions listed in Article 4 of this Law, or falling within the scope of their activities. 7. Counterfeiting money, credit cards, debit cards or charge cards, or any official document or commercial paper, including checks. * Money-Laundering Purposes: Money laundering is any act committed with the purpose of: 1. Concealing the real source of illicit funds, or giving, by any means, a false statement about the said source. 2. Transferring or substituting funds known to be illegal for the purpose of concealing or disguising their source, or helping a person involved in the offence to dodge responsibility. 3. Acquiring, holding or using illicit funds, or investing such funds in purchasing movable or immovable assets, or in carrying out financial operations, while being aware of the illicit nature of these funds.

* Money-laundering operations may occur in any business especially:

· Banks
· Other financial institutions (insurance, mutual funds, etc.)
· Money exchange firms
· Antique dealers