As part of its strategy to curb the expansion of the informal economy and combat illicit and fraudulent activities, Lebanon’s Central Bank announced on Monday the signing of a cooperation agreement with US-based firm K2 Integrity, which specializes in global risk management, compliance, and financial investigations.
The agreement is part of the Bank’s broader effort to remove Lebanon from the Financial Action Task Force (FATF) grey list. K2 Integrity will provide technical and advisory support to help implement enhanced anti-money laundering (AML) and counter-terrorism financing (CFT) measures.
K2 Integrity, recognized globally, advises central banks, governments, financial institutions, and FinTech companies in over 100 countries. Its experts have deep knowledge of international standards, global best practices, and regulatory frameworks, particularly across Europe, the Middle East, and Africa. Their work aligns with EU directives and US laws such as the Patriot Act, the Bank Secrecy Act (BSA), and regulations from the Office of Foreign Assets Control (OFAC).
Through this partnership, Lebanon’s Central Bank aims to leverage K2 Integrity’s expertise and global reach to craft a robust action plan, address regulatory gaps, and rebuild confidence in Lebanon’s financial system at both the national and international levels.
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