APS : Saturday, 20 February 2016
ALGIERS- The Financial Action Task Force (FATF) hailed the significant progress made by Algeria in improving its fight against money laundering and the financing of terrorism, said Saturday the Ministry of Finance in a statement.
FATF underlined, during its annual plenary session held from 17 to 19 February in Paris, that Algeria has adapted its legal and regulatory framework for the fight against money laundering to the international standards.
In its assessment by countries, FATF has noted Algeria’s role at the international level in the fight against money laundering and the financing of terrorism, said the statement.
Algeria “is actively participating within the framework of international cooperation and with the respect of related laws and regulations in force in the fight against financial crimes,” said the statement.
“The measures and laws adopted by Algeria show the strong commitment of the authorities to combating the international scourge and to endowing our country with a sound and modern financial system based on the best international practices,” added the statement.
With the positive appreciation on the Algerian financial system, FATF takes note of the capacity of our system to monitor financial transactions and the internal and cross-border capital flows, concluded the statement.