Regulatory Alerts2025-01-01
Risk Assessment Report on Money Laundering and Terrorist Financing Risks Related to Virtual Assets
The Algerian Cell for Identifying Money Laundering and Terrorist Financing Risks issued this June 2025 report to evaluate risks associated with virtual assets, fulfilling recommendations from the GAFIMOAN mutual evaluation. The assessment reveals that despite a legal ban, over 1.74 million users engage with virtual assets, primarily USDT, creating high inherent risks for financial institutions and designated non-financial businesses due to regulatory gaps and cross-border vulnerabilities. While private sector mitigation measures exist, their impact is limited by the volume of transactions, prompting the need for a comprehensive legal framework and enhanced international cooperation.
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