Lebanon banking sector targeted by Iraq-based network-Lebanese official

Bloom Industries

31/07/2018 20:23

BEIRUT/BAGHDAD, July 31 (Reuters) - A Lebanese security
official said on Tuesday the Lebanese banking sector had been
targeted by an Iraq-based network that tried to extort money
from Lebanese banks and was uncovered in a joint operation with
Iraqi authorities.
    Earlier, Iraqi intelligence said the network had been
uncovered and a number of members of the gang detained, in
coordination with Lebanon's General Directorate of General
Security.
    The gang published false news and fabricated information
with the aim of extorting Lebanese banks, claiming their
ownership of deeds of assets to the value of millions of U.S. 
dollars, Major General Abbas Ibrahim, the head of General
Security, said in Beirut.    
    "More than one bank was targeted but the big operations were
happening against Bank Audi," Ibrahim said.    
    "We want to see who is behind this gang...The matter may
exceed $1 billion," he added. "There is certainly targeting of
the Lebanese banking sector."
    Those arrested were Iraqis, he added. General Security had
been following the case for more than a year.
    An intelligence source in Iraq said Iraqi and Lebanese
authorities had "managed to compromise a criminal network that
attempted to blackmail some Baghdad-based banks, including
Lebanon's Audi, by using forged documents to withdraw huge cash
(amounts) in U.S. dollar".
    Some people in the network were still in large and were
being sought, the intelligence source said.
    Bank Audi, in a statement, thanked the Iraqi authorities and
Lebanon's General Directorate of General Security for their
"intensive effort and timely action". 

 (Reporting by Tom Perry in Beirut and Ahmed Rasheed in Baghdad;
Editing by Angus MacSwan)
 ((thomas.perry@thomsonreuters.com; Reuters Messaging:
thomas.perry.reuters.com@reuters.net))