ALGIERS – The members of the Algerian People’s National Assembly (APN) adopted on Wednesday the draft law on the prevention and fight against money laundering and the financing of terrorism, during a plenary session chaired by APN President Brahim Boughali, in the presence of Minister of Justice Lotfi Boudjemaa and Minister for Relations with Parliament Kaouter Krikou.
The law, adopted without amendments, includes measures banning the activities of terrorist individuals and entities, freezing or seizing their assets, and prohibiting any dealings with them. It also reinforces procedures for detecting crimes by judicial police officers and the judiciary, and allows the creation of specialized investigative teams, particularly for financial crimes.
Additionally, the legislation increases penalties for certain offenses to better reflect the severity of the crimes.
As part of strengthening international cooperation, the law mandates Algerian authorities to collaborate and exchange information with foreign counterparts, either spontaneously or upon request, in accordance with bilateral and multilateral agreements and Algeria’s international commitments.
