The Law 318 on Fighting Money Laundering was passed by the Lebanese Parliament on 20 April 2001.
This law criminalizes the laundering of proceeds of crimes related to narcotics growing, manufacturing and trading, organized crimes, terrorist acts and terrorist financing, illegal arm trade, stealing or embezzling public or private funds or their appropriation by fraudulent means and counterfeiting money or public credit instruments. The said law defines money laundering operations and stipulates fines and imprisonment sanctions imposed on such operations.
Law 318 established the Special Investigation Commission (SIC), Lebanon's Financial Intelligence Unit (FIU), for fighting money laundering as an independent legal entity with judicial status at the Central Bank of Lebanon.
