Legal, regulatory and standards framework
Law 43.05 on the fight against money laundering
The national law in effect regarding the fight against money laundering is Law 43.05 as amended and completed. This law presents, among other things, the offence of money laundering and its underlying offences, the legal requirements applicable to those subject to the said law, the role of the National Financial Intelligence Authority (ANRF) and the supervisory authorities, the legal framework for the application of targeted financial sanctions and the role played by the National Commission in charge of the application of the sanctions provided for by the United Nations Security Council resolutions relating to terrorism, arms proliferation and their financing.
Download Law 43.05 as amended and completed
Circular of the Authority
On May 26, 2022, the ACAPS Acting President's Circular No. AS/03/21 amending and supplementing Circular No. AS/02/19 of September 25, 2019 on due diligence and internal monitoring obligations of insurance and reinsurance companies and insurance and reinsurance intermediaries was published in the Official Bulletin.
These circular aims to align with the amendments made by Law 12.18 amending and supplementing Law 43.05 on the fight against money laundering and to complete the concordance with the FATF standards.
This circular also aims to answer practical expectations of the insurance sector and has been the subject of a consultation with the sector and national partners (ANRF, financial sector regulators).
It should be noted that this circular introduced the terms relating to the National Commission in charge of the application of the sanctions provided for by the United Nations Security Council resolutions relating to terrorism, arms distribution and their financing. This commission, created by Law 12.18, becomes a major player in the national AML/CFT system.
Circular no AS/03/2021 (Consolidated version)
International AML/CFT standards
The prevention of money laundering and terrorist financing is based on international standards.
In this respect, an important role is played by the Financial Action Task Force (FATF), an intergovernmental body that aims at preventing money laundering and terrorist financing at the international level and at setting standards and best practices in this area.
Morocco is a member of the regional group of the Middle East and North Africa region, emanating from the FATF (GAFIMOAN). In this context, it is committed to a full implementation of all AML/CFT requirements.
