Morocco Continues To Fight Money Laundering With National Measure

Money-Laundering-Morocco-Travel-Blog
Morocco Fights Money Laundering

At a national conference recently held in Rabat, the Kingdom’s governor for the Central Bank, Abdellatif Jouahri,  announced measures to continue the goal of fighting money laundering. Morocco will implement a new risk assessment that will involve the help of all major administrations in Morocco. When any threats to Morocco’s financial system are detected, the system will be triggered. Prime Minister Saad Dine El Othmani said the plans will improve communication between the government and police, enabling authorities to act quickly.

Morocco will implement a new risk assessment to fight money laundering.

Vulnerabilities the Kingdom stem from Morocco’s high volume of remittances and cash-based transactions. This new effort is being lauded given on October 18th, 2013 Morocco was removed from the Financial Action Task Force List (FATF). The Blacklist identifies the countries not cooperating in the global fight to end money laundering. In February 2010 the FATF expressed Morocco had strategic deficiencies and since then the Kingdom has worked diligently to bring about a solution.

Date collection from: Know Your Country, a global research tool designed to provide information about money laundering on a country by country basis.

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