Morocco’s Anti-Money Laundering Bill Stalls in Parliament Despite Urgency

The newspaper l’Economiste is concerned about the fate of this law, one of the most anticipated for this reform. From the analysis of the daily, the bill has been dragging for more than a year now, at the level of the justice and legislation commission in the House of Representatives, which has postponed sine die two meetings devoted to the study and adoption of this bill.

The future law provides in its corpus for the strengthening of monitoring and tracking mechanisms for money laundering and the financing of terrorism.

The current Financial Intelligence Processing Unit (UTRF) will become the National Financial Intelligence Authority and will be under the aegis of the government. But, he continues, the body will retain its supervisory and control powers as well as this role of implementing financial sanctions such as the freezing of assets of legal or natural persons whose names appear on the UN Security Council list, in relation to the financing of terrorism.