Morocco Cracks Down on Real Estate Money Laundering as Suspicious Transactions Surge

More than 5,000 suspicious transaction reports have been transmitted to the justice system, testifying to a growing concern about money laundering in the real estate sector. The investigation, entrusted to the National Brigade of the Judicial Police (BNPJ), aims to identify and prosecute individuals involved in these suspicious transactions.

Kenitra, particularly exposed due to its real estate boom, is the subject of special attention from the ANRF. Several real estate developer files have been forwarded to the public prosecutor’s office to clarify the origin of the funds used in certain projects.

The public prosecutor has instructed the King’s Prosecutors General throughout the country to order financial investigations into money laundering-related crimes. The courts of first instance of Casablanca, Fez and Marrakech now have jurisdiction to investigate these cases, previously centralized in Rabat.

Similarly, the President of the National Council of the Order of Notaries has urged its members to report any suspicious transaction, while the Minister of Housing has asked notaries and real estate agents to denounce alleged cases of money laundering.

These measures are part of the continuity of the ANRF’s efforts, which recorded a 52.7% increase in suspicious money laundering reports in 2022, for a total of 5,208 reports. The banking sector remains the main source of reports, followed by payment institutions. The year 2022 was also marked by the increased involvement of the non-financial sector in the reporting process.