Seven months after its first discussion in the justice committee, the new law on money laundering is relaunched in the legislative circuit.

On Tuesday, December 1, the Committee on Justice, Legislation and Human Rights, in the House of Representatives, will hold a meeting for the general discussion of Bill 12-18. A text which modifies and supplements law 43-05 relating to the fight against money laundering. “This legislative text is fundamental given the ramifications of money laundering with the financing of terrorism and drug trafficking”, supports Imam Chekrane, Usfpéiste deputy member of this commission.

Drafted by the government in 2018, this text of law was only sent to Parliament last March. He was presented to committee a month later, but had to wait his turn for many months. “There were other priority projects, in particular that of the National Authority for Probity, Prevention and the Fight against Corruption as well as other legislative proposals made during the period of confinement”, continues Chekrane.

The objective of this new legislation is to bring the legal arsenal in the area of money laundering into line with the forty recommendations presented by the international financial action task force and the resulting standards. It brings a whole series of new features, including an increase in the value of the minimum and maximum fine imposed on natural persons for money laundering crimes.

To support Morocco's commitment to the fight against money laundering, the research and investigation mechanisms of the specialized teams of the judicial police have been strengthened. Similarly, a national commission, made up of all the administrations, bodies and institutions concerned, has been created with the aim of modernizing and updating, on a continuous basis, the legislation in this area.