International Banking Community...Please Help Us to Prevent Corruption in Lebanon
International Banking Community...Please Help Us to Prevent Corruption in Lebanon
The Issue
Chief Compliance officer,
I am writing to you on behalf of the Lebanese population and expats living abroad. Lebanon has since 1974 Civil war and subsequently the peace process been ruled, to a large extent, by thugs and warlords.
The Lebanese people, the United Nations, NGOs, in addition to transparency international view the Lebanese political apparatus as rotten to the core with rampant corruption.
Therefore, and to avoid embarrassment to your institution in addition to your goal not to deal with “dirty money”, we urge you to close the accounts of any current or previous Lebanese politically exposed individual and their families on your books immediately. Correspondent banking institutions should also prevent and stop any wire transfers initiated by one of these politically exposed individuals, their families, and "mules".
We believe that any current, ex-politician or a Lebanese business that is tightly related to a politician, or a company that made exuberant amount of money from Lebanese government contracts, is corrupt or have participated as an accomplice by keeping a blind eye to the corruption and nepotism around them.
We urge you to take action as soon as possible, and ask these politicians to take their money somewhere else.Your revenue from these accounts will not be of any consolation to you in the event that they get investigated or prosecuted in the near future.
Why are we doing this: We believe that their ability to hide money overseas is one of the main reasons they continue with their corrupted practices. Banks like yours, unknowingly, are encouraging this corruption.
You internal due diligence and PEP review is for sure world class. Having said this, the corruption within the Lebanese government take place under the cover of laws and contracts the politicians have enacted to make their embezzlement seem legal. However, it is the money of the people that they are pocketing and depositing in their offshore accounts.
Your reputation is more important than few accounts. We urge you to do the right thing!
The Issue
Chief Compliance officer,
I am writing to you on behalf of the Lebanese population and expats living abroad. Lebanon has since 1974 Civil war and subsequently the peace process been ruled, to a large extent, by thugs and warlords.
The Lebanese people, the United Nations, NGOs, in addition to transparency international view the Lebanese political apparatus as rotten to the core with rampant corruption.
Therefore, and to avoid embarrassment to your institution in addition to your goal not to deal with “dirty money”, we urge you to close the accounts of any current or previous Lebanese politically exposed individual and their families on your books immediately. Correspondent banking institutions should also prevent and stop any wire transfers initiated by one of these politically exposed individuals, their families, and "mules".
We believe that any current, ex-politician or a Lebanese business that is tightly related to a politician, or a company that made exuberant amount of money from Lebanese government contracts, is corrupt or have participated as an accomplice by keeping a blind eye to the corruption and nepotism around them.
We urge you to take action as soon as possible, and ask these politicians to take their money somewhere else.Your revenue from these accounts will not be of any consolation to you in the event that they get investigated or prosecuted in the near future.
Why are we doing this: We believe that their ability to hide money overseas is one of the main reasons they continue with their corrupted practices. Banks like yours, unknowingly, are encouraging this corruption.
You internal due diligence and PEP review is for sure world class. Having said this, the corruption within the Lebanese government take place under the cover of laws and contracts the politicians have enacted to make their embezzlement seem legal. However, it is the money of the people that they are pocketing and depositing in their offshore accounts.
Your reputation is more important than few accounts. We urge you to do the right thing!
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Petition created on November 29, 2019