Morocco Prepares for FATF Evaluation on Anti-Money Laundering Efforts

The National Financial Intelligence Authority (ANRF) is preparing to welcome the experts from the Financial Action Task Force (FATF), whose evaluators’ visit will determine whether Morocco has succeeded in safeguarding the integrity of its international financial system. Last October, the evaluators had pointed out that even if efforts are being made, "Morocco should continue its work to implement its action plan to remedy its strategic shortcomings," reports Le Matin.

According to MENAFATF (Middle East and North Africa Financial Action Task Force) experts, Morocco has taken many actions to implement the FATF recommendations. The evaluation committee plans to meet with some of the officials responsible for implementing the Moroccan action plan, those from the Ministries of Finance, Justice, Interior, Foreign Affairs, the Supreme Council of the Judiciary, the central authorities in charge of international cooperation, the members of the ANRF and many other stakeholders involved in the fight against money laundering.

In this area, Morocco has taken a set of measures such as the adoption by the House of Representatives of Bill No. 12.18 amending and supplementing the Penal Code and Law No. 43.05 on the fight against money laundering. This allows the authorities to track this type of funds in order to seize them. This is a law adopted in 2021 to bring the kingdom in line with national legislation with international standards adopted by FATF.