The European Parliament has officially endorsed the inclusion of Algeria on the EU’s list of high-risk countries for money laundering and terrorist financing. The move, proposed by the European Commission and aligned with FATF standards, was overwhelmingly approved during a plenary session in Strasbourg on July 9.
The decision requires enhanced due diligence on financial operations involving Algerian entities within the EU, increasing scrutiny and traceability of funds. It comes amid concerns over Algeria’s financial oversight gaps and alleged links to the Polisario Front.
MEP Laurence Trochu welcomed the vote, calling it a step forward for financial transparency. The designation is based on technical assessments by the Financial Action Task Force (FATF), which cited deficiencies in Algeria’s oversight of NGOs, financial traceability, and international judicial cooperation.
The decision will become legally binding following formal adoption by the EU Council in the coming weeks.
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