Last week, the Financial Action Task Force (FATF) published a new grey list including 4 new countries, including Morocco.

The Financial Intelligence Processing Unit (UTRF) responded to this report with a rather convoluted statement. Faced with the report that places Morocco on its gray list of countries that are lax in the fight against money laundering and terrorist financing, the UTRF reacted.
The Unit led by Jawhar Nfissi indicated that “the process of mutual evaluation of its national system to combat money laundering and terrorist financing on the basis of the international standards of the Financial Action Task Force has reflected the efforts made by the Kingdom in combating financial crimes, particularly money laundering and terrorist financing, at the national and international levels & raquo;.
For the UTRF, “this operation highlighted the tangible progress made by Morocco, in terms of technical commitment to adapt legislative and regulatory texts with international standards and in terms of strengthening the efficiency of the entire system”.
However, the Unit notes shortcomings. “In accordance with its international obligations and its involvement in the efforts made by the international community to combat money laundering and terrorist financing, Morocco has carried out the second phase of the mutual evaluation process of its national system to combat money laundering and terrorist financing, in accordance with the international standards of the revised Financial Action Task Force. It is in 2012,” reads the statement.