Sat. Jul 20th, 2024

Morocco’s National Financial Information Authority has revealed a rise in money laundering-related activities, with the announcement of investigations into around 5,000 cases within this framework.

Jawhar Nafisi, Chairman of the Commission, presented the 2022 annual report to the Moroccan Prime Minister, Aziz Akhannouch, stressing the increase in money laundering and terrorist financing.

The annual report indicated a 25.58% increase in the number of files referred to the judiciary compared to 2021.

The report indicated that half of these cases relate to acts of forgery or falsification of bank statements, with the emergence of new classifications linked to money laundering.

The commission referred 54 files to prosecutors at the courts of first instance in Rabat, Casablanca, Fez and Marrakech, as well as to the King’s prosecutor at the Rabat Court of Appeals, based on sufficient evidence of involvement in money laundering or terrorist financing.

In February 2023, Morocco dropped the grey list of the Financial Action Task Force (GAFI) as a culmination of its efforts and proactive measures over the years in the field of combating money laundering and terrorist financing.

 

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