BRUSSELS (BELGIUM) (ITALPRESS) – The European Commission has officially added Algeria to the grey list of high-risk countries in terms of terrorism financing and money laundering. The measure, announced on Tuesday, requires EU member states to apply “enhanced vigilance” in financial transactions with the listed countries, in order to “protect the EU’s financial system.”
According to the Moroccan website Le360, the European Commission’s decision is based on a “thorough assessment” that takes into account the most recent available information, particularly the public statements of the Financial Action Task Force (FATF) and its updated list of jurisdictions under increased monitoring. The FATF had already added Algeria to its list last October, highlighting strategic deficiencies in preventing money laundering and terrorism financing.
Although President Abdelmadjid Tebboune has pledged regulatory adjustments, including the closure of the parallel currency market (“Square”), the promised reforms have not yet been effectively implemented.
The Commission also explained that its decision is based on field missions and bilateral meetings, which confirmed the lack of substantial progress.
At the same time, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions against the Algerian NGO El Baraka, accused of financing terrorist groups such as Hamas. El Baraka is also very active in the Tindouf refugee camps and is linked to the Polisario Front.
Brussels warns that without concrete action, Algeria risks not only prolonged inclusion on the grey list but also a possible move to the EU’s blacklist, alongside countries like Iran, North Korea, and Myanmar.
– Photo fr.le360.ma –
(ITALPRESS)
