470 financial crimes reported
Special Investigation Comm

Cases of terrorism

financing up 70 percent

The Central Bank’s Special Investigation Commission (SIC) said it received 470 cases related to financial crimes last year, up nine percent compared with 2015.

The number of crimes reported by local sources totaled 363. The remaining 107 cases were submitted by foreign sources, according to SIC’s 2016 annual report.

With 140 cases, embezzlement of private funds continues to be the most reported crime. This kind of crime increased 40 percent compared with 2015.

Forgery ranked second with 63 cases but increased, at a greater rate, by 85 percent compared with 2015.

The number of reported terrorism financing crimes jumped 70 percent to 46 cases.

“Money laundering and terrorism financing cases handled during the year led to account freezing decisions and lifting bank secrecy of 42 cases that were forwarded to the General Prosecutor,” said Riad Salameh, Governor of the Central Bank, who is also the Chairman of SIC.