Anti Money Laundering Statement
Optimum Invest SAL (OI) recognizes the importance of preventing money laundering and terrorism financing and is committed to the highest standards of Anti-Money Laundering and Combating Terrorist Financing (AML/CTF). It is of utmost importance for OI to continually evaluate the strength and relevance of its existing policies, procedures and employee training programs and, if necessary, update them to incorporate any needed changes.
OI being licensed and regulated by the Central Bank of Lebanon (CBL) and the Capital Markets Authority (CMA) of Lebanon, is keen on enforcing all local and international rules, regulations and best practices related to AML/CTF.
OI is compliant with Law No. 318 dated April 20, 2001 as amended by law 44 dated November 24, 2015 on Fighting Money Laundering, Combatting Terrorist Financing and all other related illegal activities. OI is always abreast and strives to being compliant with regulations promulgated by the Central Bank of Lebanon with regards to anti-money laundering and combatting the financing of terrorism.
The Central Bank of Lebanon addresses banks and financial institutions on AML/CTF matters by issuing circulars and is supported by the local Financial Intelligence Unit, the Special Investigation Commission which investigates banks and financial institutions’ practices in addressing AML/CTF cases.
On May 18, 2001 the CBL issued basic Circular No. 83 addressed to Banks and Financial Institutions regarding the regulation and control of financial and banking operations for the purpose of combatting money laundering and terrorist financing, it was followed by several circulars aiming to strengthen regulation and improve best practices.
OI recognizes that preventing money laundering and identifying possible terrorist financing activities is an ongoing process that involves constant due diligence and the ability to keep pace with the everchanging and sophisticated techniques employed by criminals. For this purpose, OI has established employees indoor and outdoor training programs to educate and assist employees in the ways of identifying transactions exposing the firm to money laundering and terrorist financing risk.
OI delivers trainings and seminars covering money laundering and terrorist financing identification and prevention techniques to all its employees with no exception. Trainings include client identification and KYC procedures in addition to techniques on how to identify and follow-up on unusual or suspicious activities in light of the risk-based principle of identifying, monitoring and managing money laundering and terrorist financing risks.
OI has adopted policies and procedures addressing applicable processes in the daily prevention of money laundering and terrorist financing and that are specifically designed to ensure compliance with applicable AML/CTF laws and regulations. P&Ps also include methodologies to follow for the purpose of monitoring, mitigating and managing money laundering and terrorism financing non-compliance risks.