Regulatory Alerts2005-01-01
Law No. 05-01 of 6 February 2005 on the Prevention and Fight Against Money Laundering and Terrorism Financing
The President of the Republic promulgated Law No. 05-01 to establish a comprehensive legal framework for preventing and combating money laundering and terrorism financing in Algeria. The law mandates strict customer identification, transaction monitoring, and suspicious activity reporting obligations for financial institutions and designated non-financial professions. It defines criminal offenses, imposes significant administrative fines for non-compliance, and establishes international cooperation mechanisms while protecting good-faith reporters from liability.
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