Morocco added to terrorism financing and money laundering watchlist

The Financial Action Task Force, an intergovernmental organization founded in 1989 on the initiative of the G7 to develop policies to combat money laundering, has added Morocco to its terrorism funding and money laundering watchlist.

Morocco was added to the list that includes Burkina Faso, Senegal and the Cayman Islands. The decision was made during a plenary session held this week.

This list includes 19 countries, which only partially comply with international rules for combating terrorist financing and money laundering.

Among the shortcomings that allow these practices are the preservation of information on the real beneficiaries of money laundering, the transfer of funds that could be used for the financing of terrorism and the scale of the operations of financial intelligence units in these countries.