Morocco Ranks 51st Globally in Anti-Money Laundering Efforts, Study Finds

After the Financial Action Task Force (FATF) and the ONDH, the kingdom has again been criticized on the issue of the fight against money laundering and terrorist financing. This time, the Switzerland-based organization blames it for several shortcomings in the fight against this scourge, despite the strengthening of the legal arsenal, reports L’opinion.

According to the international report, Morocco scored 5.32, which places it 51st globally out of a total of 110 countries, and 4th regionally.

However, notes the newspaper, this rating is seen as an advance according to the institution, which has welcomed the gradual strengthening of a more rigorous legislative arsenal in the fight against financial crime.

It should be recalled that a few months ago, Law 12.18 supplementing the Penal Code in this area was unanimously adopted by the deputies in the House of Representatives. The new reform had introduced new disciplinary and administrative sanctions on persons (natural or legal) involved in brokerage in favor of money launderers to transfer or place their funds in legal activities. That said, the latter can be reframed by the supervisory authorities.