Suspicious accounts, millions at stake: a Moroccan bank under heavy pressure

The controllers have identified human and procedural failures. According to the daily Assabah, some branch managers did not comply with the mandatory vigilance protocols when opening accounts. As a result, client profiles and the origin of their funds were not verified with the rigor required by law, leaving the door open to potentially illicit financial flows.

The audit notably highlighted two burning cases. These are accounts receiving massive financial transfers for which no reliable information on the account holders was found. Faced with these "strong suspicions", the bank immediately seized the National Financial Intelligence Commission. Internally, the employees responsible for the management of these files are on the hot seat and have been summoned to explain themselves before any possible sanctions.

These negligences could cost the institution dearly. Bank Al-Maghrib (BAM) imposes strict supervision and annual audits on the risks of money laundering and terrorist financing. The banking gendarme does not joke with these rules: during previous control missions, BAM had already taken action by issuing ten disciplinary measures and eleven financial penalties against nine banks and finance companies for similar shortcomings.