EXTENSIVE DESCRIPTIVE LITERATURE REVIEW REVEALING THE IMPACT OF BANKING SECRECY ON MONEY LAUNDERING: PROMINENCE ON THE LEBANESE BANKING SECTOR

Authors

Nour Mohamad Fayad, PhD Candidate, Faculty of Business Administration Beirut Arab University, LebanonFollow
Sara Karam Nassredine, PhD Candidate, Faculty of Business Administration Beirut Arab University, LebanonFollow

Keywords

Money Laundering, Banking Secrecy law, Lebanese Banking Sector

Disciplines

Architecture | Arts and Humanities | Business | Engineering | Life Sciences | Social and Behavioral Sciences

Abstract

Worldwide financial institutions face complexity in balancing between business ethical standards on one hand, and the act of competitiveness on the other hand. Thus, while selecting their customers they seek customers that lead them to the optimum position of competitiveness in the market, taking into consideration the act of financial investigation to avoid money launderer customers. Money launderer customers seek to deal with financial institutions to proceed with operating their financial crimes. Therefore, this paper spots the light on “money laundering” alongside with the impact of banking secrecy on money laundering with prominence on the Lebanese banking sector. Thus, in this paper, researchers present an extensive descriptive literature review that discuss in depth prior fundamental studies published since 1970 when banking secrecy was introduced until year 2018. Research limitations and future recommendations are provided at the end of this paper.

Recommended Citation

Fayad, Nour Mohamad and Nassredine, Sara Karam (2021) "EXTENSIVE DESCRIPTIVE LITERATURE REVIEW REVEALING THE IMPACT OF BANKING SECRECY ON MONEY LAUNDERING: PROMINENCE ON THE LEBANESE BANKING SECTOR," BAU Journal - Creative Sustainable Development: Vol. 3: Iss. 1, Article 1.
DOI: https://doi.org/10.54729/2789-8334.1044

ISSN

2789-8334