In order to effectively combat money laundering in order to get out of the FATF gray list, the Algerian Ministry of Housing has developed a regulation that all agents immobiliers are required to apply.

The decree of the Algerian Ministry of Housing concerns the establishment of the “regulation to prevent and combat money laundering, the financing of terrorism and the financing of the proliferation of weapons of massive destruction against real estate agents.” The regulation strictly prohibits real estate agents from maintaining “anonymous accounts or accounts with clearly fictional names.” This profession is an essential segment in the fight against the scourge as money laundering networks often use transactions immobilières to launder funds of dubious origin. In order to avoid exposing themselves to risks related to their customers, real estate agents are also required to ensure that effective “know the customer” measures are in place.

En Algeria , real estate agents must, under the new regulation, identify and verify the identity of the client, before establishing a business relationship or carrying out a transaction.