Mutual Evaluation of Algeria

Publication details

Language

English

Country

Topic

Mutual evaluations

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

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

See also

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system

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Consolidated assessment ratings

An up-to-date overview of the ratings on both effectiveness and technical compliance for all countries assessed against the 2012 FATF Recommendations and using the 2013 Assessment Methodology.

Middle East and North Africa Financial Action Task Force (MENAFATF)

The Middle East and North Africa Financial Action Task Force (MENAFATF) is a FATF-Style Regional Body (FSRB) that works to strengthen member States' capacity to combat money laundering, terrorist financing and proliferation financing.