Morocco Strengthens Anti-Money Laundering Laws to Meet Global Standards

Making the legal arsenal in the fight against money laundering and terrorist financing compliant with the forty recommendations presented by the international Financial Action Task Force, and the resulting standards. This is the project launched by Morocco which is active in tightening its legal arsenal.

Thus, the penal code and the criminal procedure will be revised. According to the Minister of Justice, Mohamed Ben Abdelkader, this includes the draft law amending and supplementing Law No. 43.05 on money laundering, already submitted to the Justice, Legislation and Human Rights Committee in the first chamber of Parliament. This committee will be responsible for reviewing and filling the gaps identified in the mutual evaluation report.

With the new law, the minimum and maximum fine imposed on individuals for money laundering offenses will be increased in accordance with international standards.

The Ministry of Justice has already worked to strengthen "search and investigation mechanisms with specialized teams from the judicial police and has signed several judicial cooperation agreements to combat the offense and limit the risk of fleeing justice". It has also created a national commission, composed of all the administrations, organizations and institutions concerned, with the aim of continuously modernizing and updating the results of the national risk assessment.