Banking Supervision of Money Laundering

A Study in Light of Law 23/01 Concerning the Prevention and Combating of Money Laundering and Terrorist Financing

Abstract

Money laundering is a crime that has garnered significant attention from countries and international organizations due to its diverse and constantly evolving methods of perpetration, making it difficult for anti-money laundering bodies to effectively combat, particularly when committed within the banking sector. This has prompted countries and international organizations to strengthen banking supervision principles, which have proven effective in curbing money laundering within the banking system. The Algerian legislature, like other international legal systems, has adopted a range of banking supervision methods to combat money laundering, both within criminal and banking laws, and has further strengthened these mechanisms through Law 23/01, concerning the fight against money laundering and the financing of terrorism.