The war on money laundering and the pursuit of suspicious operations continues

The accountant is required to disclose the actual owner or controller of the company. The declaration of suspicion is made without informing the concerned customer, despite Algeria's exit from the gray list of the Financial Action Task Force (FATF) and achieving a step that has been appreciated. Accounting and auditing professionals in Algeria have entered a new phase of strict oversight on funds and financial transactions, after the National Council of Accounting established rules that require accountants, auditors, and certified accountants to report suspicious operations to the Financial Intelligence Processing Unit, while prohibiting them from informing the concerned customer that they are under suspicion. The matter does not stop there, as the professional is now required to disclose the person who is actually behind the...