3,000 confidential reports about money laundering in Algeria

The financial information cell at the Algerian finance ministry received 300 reports of suspected laundering in the first five months of 2013 while the Algerian Processing Unit for Financial Intelligence (CTRF) reached about 7,000 declaration of suspicion in 2010-2012, an official at the ministry told Echorouk.

“The reports were prepared with the financial information cell’s main partners. Of them, there are the Central Bank, taxes department, customs, security forces, notaries, lawyers and accountants,” he said.

He added that the number of confidential reports sent by customs, the Central Bank and taxes department to the financial information cell beat the record.

According to officials at surveillance central department of customs, the number of investigations into hard currency smuggling and money laundering reached 510 in the five months of 2013. Economic enterprises, Algerian and foreign investors were involved. A total of 2,000 cases were introduced into justice during the same period.