Regulatory Alerts2024-07-10
Information and Awareness Guide: Combating Money Laundering and Terrorist Financing - Securities Market
The Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) issued this guide on July 10, 2024, to define key terms and procedures for combating money laundering, terrorist financing, and the financing of proliferation of weapons of mass destruction within the Algerian securities market. The document mandates that regulated entities implement risk-based approaches, conduct rigorous customer due diligence, and maintain continuous transaction surveillance to identify suspicious activities. It further requires the immediate reporting of suspicious operations to the Financial Intelligence Processing Unit (CTRF) and emphasizes the heightened risks associated with politically exposed persons and beneficial owners.
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