Bill No. 12.18 amending and supplementing the entire Penal Code and Law No. 43.05 relating to the fight against money laundering was unanimously approved by the House of Representatives last Wednesday during a second reading. This regulation aims to strengthen the national legal system to deal with this type of crime.

In a press release, the Ministry of Justice indicates that this bill, presented by the ministry and adopted unanimously by the two Chambers of Parliament in a first reading, is part of the strengthening of the national legal system for fight against this type of serious crime and its adaptation to the international standards adopted in this regard, in particular by the Financial Action Task Force (FATF). This project reaffirms the firm will of the Kingdom of Morocco to honor its international commitments and to consolidate the efforts made by the Moroccan authorities competent in the matter, the press release specifies.
The changes made to the levels of sanction and prevention mainly concern the extension of the judicial competence of the courts responsible for dealing with money laundering cases, to three other additional courts (Casablanca, Fez and Marrakech), in addition to that of Rabat. The amendments also relate to the expansion of the list of crimes giving rise to money laundering, the creation of a public register for beneficial owners, the clarification of the commitments of subject persons and supervisory authorities.