MENAFATF upgrades Algeria on five FATF Rec., acknowledging AML/CFT progress but keeping the country under heightened scrutiny due to remaining compliance gaps

In its May 2025 enhanced follow-up report, MENAFATF acknowledged Algeria’s progress in strengthening its anti-money laundering and counter-terrorist financing (AML/CFT) measures, resulting in the re-rating of five FATF Recommendations, including those on customer due diligence and wire transfers. However, MENAFATF concluded that Algeria must continue addressing remaining gaps and will remain under enhanced monitoring…