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Algeria Makes Progress in Combatting Money Laundering and Financial Crimes

Over the past decades, Algeria has made significant strides in its efforts to combat money laundering and financial crimes. The government has taken crucial steps by updating its criminal laws on terrorist financing and issuing new guidelines for the Bank of Algeria and the Ministry of Finance’s Financial Intelligence Processing Unit (CTRF), Algeria’s financial intelligence unit (FIU).

Strengthening the AML/CFT Regime

This move is seen as a vital step in strengthening the country’s anti-money laundering and combating the financing of terrorism (AML/CFT) regime. According to the latest Mutual Evaluation Report, which was conducted in 2023, Algeria was deemed:

• Compliant for two areas
• Largely Compliant for nine areas
• Highly Effective for zero areas
• Substantially Effective for two areas

These results demonstrate Algeria’s commitment to improving its AML/CFT regime and combating financial crimes.

EU Global Facility Support

In March 2022, the EU Global Facility on AML/CFT conducted a scoping mission to Algeria. The mission aimed to assess the country’s needs for technical assistance and define a future course of action. Following this assessment, technical assistance activities began in January 2023, covering topics such as:

• Strengthening the financial intelligence unit
• Improving customer due diligence
• Enhancing international cooperation

This project is expected to provide valuable support to Algeria in its efforts to strengthen its AML/CFT regime and combat financial crimes.

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