Mutual Evaluation of Algeria

Publication details

Language

English

Country

This evaluation is based on the 2012 FATF Recommendations, and was prepared using the 2013 Methodology.

The evaluation is based on information provided by the country, and information obtained by the evaluation team during the on-site visit to the country that took place from 24 July - 10 August 2022.

The findings of this assessment have been reviewed and endorsed by the FATF.

Please refer to the Executive Summary of the report for the Key Findings and Priority Actions.

Mutual Evaluation of Algeria

Filename
MENAFATF-MER-Algeria-2023.pdf
Size
3 MB
Format
application/pdf
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Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Algeria Mutual Evaluation 2023

R.1 - Assessing risk & applying risk-based approach
NC
R.2 - National cooperation and coordination
PC
R.3 - Money laundering offence
LC
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
C
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
PC
R.7 - Targeted financial sanctions related to proliferation
NC
R.8 - Non-profit organisations
NC
R.9 - Financial institution secrecy laws
PC
R.10 - Customer due diligence
PC
R.11 - Record keeping
PC
R.12 - Politically exposed persons
NC
R.13 - Correspondent banking
NC
R.14 - Money or value transfer services
PC
R.15 - New technologies
NC
R.16 - Wire transfers
NC
R.17 - Reliance on third parties
R.18 - Internal controls and foreign branches and subsidiaries
PC
R.19 - Higher-risk countries
NC
R.20 - Reporting of suspicious transactions
LC
R.21 - Tipping-off and confidentiality
PC
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
PC
R.24 - Transparency and beneficial ownership of legal persons
NC
R.25 - Transparency and beneficial ownership of legal arrangements
NC
R.26 - Regulation and supervision of financial institutions
PC
R.27 - Powers of supervisors
PC
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
LC
R.30 - Responsibilities of law enforcement and investigative authorities
LC
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
PC
R.33 - Statistics
C
R.34 - Guidance and feedback
PC
R.35- Sanctions
PC
R.36 - International instruments
PC
R.37 - Mutual legal assistance
LC
R.38 - Mutual legal assistance: freezing and confiscation
LC
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
NC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Algeria Mutual Evaluation 2023

IO1
LE
IO2
ME
IO3
LE
IO4
LE
IO5
LE
IO6
ME
IO7
ME
IO8
SE
IO9
SE
IO10
LE
IO11
LE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

Translation

MENAFATF Mutual Evaluation of Algeria - Arabic

Filename
MENAFATF-MER-Algeria-2023-Arabic.pdf
Size
5 MB
Format
application/pdf