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Algeria: 600 money laundering operations in 2011 first half


14:51, December 08, 2011

ALGIERS, DEC. 8 (Xinhua) -- Algeria Processing Unit for Financial Intelligence (CTRF) received 600 reports of suspected money laundering operations in the first half of 2011, head of the CTRF, Nouredine Hibouche said Wednesday.

Speaking to local government run radio, Hibouche said 330 reports were issued by the Central Bank, specifying that the CTRF recorded about 3,000 reports of suspected money laundering operations in 2010.

The official further added that the CTRF is one of mechanisms that Algeria has put into effect since the ratification of a couple of international treaties related to countering money laundering operations and drying up terror groups financial resources.

Since its installation in 2002, the CTRF has been tracking down suspected money transfers, through collecting information mentioned in suspicion notifications being delivered by operators and institutions. CTRF analyses the collected data and then, depending on the degree of the suspected operation, submits a complaint to the general prosecutor who is in charge of making lawsuit.

Local El Khabar newspaper reported on Wednesday that Algeria, Morocco and Mauritania are coordinating together to counter narcotic money laundering by 11 companies operating in southern Algeria.

The source said that Algeria security services have arrested three people involved in using two import-export enterprises, and another company specialized in renting equipment, to launder 100 million DZD (about 1.5 million U.S. dollars) likely collected from narcotic trafficking operations.

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sid at 2011-12-0986.142.182.*
the Egyptian and Jordanian and Syria make Algeria look like milking cow they come with fake business account and import export all fake document paper never existed what a bunch of crooks these Arabs are all doing money laundering in Algeria and now all gone missing these people

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