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Money laundering: Algeria multiplies measures to get out of the FATF gray list

13/03/2025
Source : ORISHAS FINANCE
Categories: Compliance

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An investigation was conducted in Algeria into the smuggling of products dangerous to public health and money laundering. In execution of an arrest warrant as part of this investigation, the Boufarik court (Blida) indicated last Monday that a man was arrested and imprisoned, 41 billion and objects were seized.

The Boufarik court (Blida) conducted an investigation leading to the arrest of a man. During the search of his home, pursuant to a rogatory commission, a colossal sum of money of 41 billion cents (41 million Algerian dinars), 90,050 euros, 1,150 dollars, 1,150 dollars, 645 Saudi riyals, 645 Saudi riyals and six cars was seized. According to the court, the amounts of money in dinars and foreign currency were hidden in the trunks of the seized vehicles. This operation comes as Algeria strengthens its fight against money laundering to get out of the FATF gray list

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