https://www.moroccoworldnews.com/2024/12/367015/morocco-sees-31-increase-in-money-laundering-terrorism-financing-cases-in-2023

The Moroccan Financial Intelligence Unit (ANRF) has reported a significant rise in cases related to money laundering and terrorism financing in 2023, according to its recently released annual report.

A total of 71 cases were transmitted to the Public Prosecutor’s Offices in Rabat, Casablanca, Fez, and Marrakech, as well as to the Attorney General at the Rabat Court of Appeal. This marks a 31.48% increase compared to 2022. 

Among the cases, 38% were linked to fraud, including falsified bank statements, payment methods, and other documents. The report noted new trends in money laundering activities involving sports betting, pyramid schemes, and cryptocurrencies. 

In addition to these cases, the ANRF received 5,777 suspicious transaction reports (STRs) in 2023, marking a 10.93% increase from 2022. The vast majority of these reports—5,739—were linked to money laundering, reflecting a 10.98% rise compared to the previous year. Reports related to terrorism financing totaled 38 cases. 

The ANRF noted that between 2018 and 2023, the number of STRs related to money laundering grew by an impressive 441.93%, jumping from 1,059 to 5,739. The report attributed this growth to the unit’s collaboration with financial and non-financial partners, as well as awareness campaigns, workshops, and bilateral or multilateral meetings designed to enhance reporting. 

The banking sector emerged as the largest contributor of STRs in 2023, accounting for 44.82% of all reports received. Payment institutions, including payment and fund transfer services, followed with 19.56% of the total. Notably, the non-financial sector showed significant progress, with STR submissions rising by 44% compared to 2022.

The ANRF explained that its findings are based on operational analysis of the information and additional data from national and international partners. Cases suspected to involve money laundering are forwarded to the prosecutors in the e cities, while those related to terrorism financing are sent to the Attorney General at the Rabat Court of Appeal.