Bank Al-Maghrib (BAM), Morocco’s central bank, has published a practical guide to combating money laundering and terrorist financing (AML-CTF). This initiative aims to raise public awareness and enhance compliance with international standards.
Developed in collaboration with key authorities such as the National Financial Intelligence Authority (ANRF) and the Moroccan Capital Market Authority (AMMC), the guide provides a comprehensive overview of AML-CTF regulations and procedures in Morocco.
The guide defines key concepts related to money laundering and terrorist financing, explains how these activities operate, and outlines the international standards and Morocco’s legal framework for combating them. It identifies the key players in Morocco’s AML/CFT system, including the ANRF, the National Sanctions Commission, and financial sector regulators, clarifying their roles and responsibilities.
The guide emphasizes the global threat posed by financial crime and the consequences of non-compliance with international standards. It highlights Morocco’s significant progress in strengthening its AML/CFT framework, including its removal from the Financial Action Task Force (FATF) grey list in February 2023.
This guide serves as a valuable resource for individuals and institutions involved in combating financial crime. It reflects Morocco’s ongoing commitment to strengthening its AML/CFT regime and ensuring compliance with international standards. The guide also demonstrates Morocco’s proactive approach to raising awareness and promoting a strong culture of compliance in the fight against money laundering and terrorist financing.
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