In an ongoing effort to address money laundering, Morocco has updated its national anti-money laundering (AML) system to align with international standards, according to officials. This move is part of a broader push to modernize legal frameworks and enhance both national and international cooperation against financial crimes.
Moulay Hassan Daki, the Prosecutor General at the Court of Cassation and head of the Public Prosecution Office, detailed the country’s strategic measures during an international symposium organized by the International Federation of Lawyers in Tangiers. Daki noted that the implementation of judicial efficiency programs has been a key focus, reflecting a significant increase in registered cases—from 336 between 2008 and 2018, to over 2,927 from 2018 to 2023. Similarly, judicial rulings on such cases rose from 27 to 311 in these periods.
The symposium explored various themes including the socioeconomic and legal challenges of money laundering, the impact of emerging technologies like e-commerce and virtual assets, and the evolving role of lawyers in AML efforts. Experts discussed how technological advancements have introduced new challenges that require ongoing updates to legal and regulatory frameworks.
Morocco’s dedication to strengthening its financial systems was highlighted by its removal from the Financial Action Task Force’s grey list, signaling a boost in international confidence and its attractiveness as a safe investment destination. The Supreme Council of the Judicial Power, through its President-Delegate M’hammed Abdenabaoui, also underscored recent enhancements, such as the creation of a specialized unit to improve the tracking of money laundering cases.
Further, the Presidency of the Public Prosecution has released a scientific guide aimed at refining techniques for investigating money laundering and terrorist financing. This guide aims to assist practitioners in the criminal justice system by providing a comprehensive legal framework for navigating such investigations.
Silvestre Tando de Marsac, Financial Director of the International Federation of Lawyers, and Hussein al-Zayani, President of the Association of Bar Associations in Morocco, both emphasized the importance of continued collaboration among judicial bodies to ensure economic stability and tackle the complexities of financial crimes in the digital age.
This national overhaul reflects Morocco’s proactive stance in adhering to and exceeding the recommendations of international AML standards, aiming to fortify its financial integrity on the global stage.
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