Regulatory Alerts2015-01-01
Law No. 15-06 of 15 February 2015 amending and complementing Law No. 05-01 on the prevention and fight against money laundering and terrorist financing
The President of the Republic of Algeria promulgated Law No. 15-06 to significantly amend and complement the existing framework for combating money laundering and terrorist financing. The legislation expands the definition of terrorist financing offenses, establishes extraterritorial jurisdiction for Algerian courts, and introduces strict asset freezing and seizure procedures aligned with UN Security Council resolutions. It further clarifies regulatory obligations for financial institutions and non-financial businesses, mandating immediate reporting of suspicious transactions to the specialized authority.
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