Mechanisms for Combating Money Laundering in Algeria': The Financial Intelligence Processing Unit as a Model

Abstract

In line with its international obligations in this area, Algeria has taken steps to combat money laundering and terrorist financing by establishing a specialised unit known as the Financial Intelligence Processing Unit. This unit is responsible for carrying out its duties, particularly receiving and processing suspicious activity reports. To this end, the legislature has granted the unit powers to cooperate and communicate with various local and international sectors and bodies, as well as similar units around the world, in order to combat these emerging financial crimes. This initiative is of the utmost importance for achieving national security requirements in both financial and security terms.