Algeria strengthens its machine to fight against financial crimes. The Minister of Finance, Aymen Benabderrahmane, installed this Monday in Algiers the National Committee for the evaluation of the risks of money laundering, financing of terrorism and the financing of the proliferation of weapons of mass destruction.

An opening ceremony dedicated the installation and the adoption of the rules of procedure of the National Committee for the evaluation of the risks of money laundering and financing of terrorism.
On the occasion, the Minister recalled that the promulgation of Executive Decree No. 20-398 establishing the Committee comes within the framework of the 2nd evaluation session by the Middle East and Africa Financial Action Task Force North (FATF-MENA) systems to combat the risks of money laundering, terrorist financing and the financing of the proliferation of weapons of mass destruction.

The creation of this Committee "will allow our country to carry out the national assessment of the risks of money laundering, terrorist financing and financing of the proliferation of weapons of mass destruction, and therefore, to develop a national strategy to mitigate those risks,” he said.

The challenge for the Committee is to finalize the national risk assessment, including the sectoral assessments under the supervision of its two sub-committees, in accordance with the methodology developed by the FATF and the publication, in a period of less than one year, of the national risk report followed by the national risk reduction strategy document.

The National Committee will have to review and approve the evaluation reports at the sector level as well as the national report to submit it to the Prime Minister for approval. It also draws up the national strategy to combat these forms of crime and submits it to the Prime Minister for approval.