The National Accounting Council issued a directive on June 11, 2026, mandating experts, auditors, and certified accountants to adhere to a full system for preventing money laundering, terrorist financing, and proliferation financing. This significant directive, aimed at bolstering financial integrity and security within the professional accounting sector, applies the provisions of Law No. 05-01, dated February 6, 2005. This foundational law, which concerns the prevention and combating of money laundering and terrorist financing, has been amended and supplemented over time to address evolving financial crime threats. The directive specifically targets experts, auditors, and certified accountants, showing their critical role in the financial ecosystem and in upholding national and international standards against illicit financial activities.
Key Prevention Tasks Detailed
The newly mandated anti-money laundering system requires accounting professionals to undertake six primary tasks. These tasks are designed to create a strong framework for identifying, mitigating, and reporting risks associated with financial crimes. These responsibilities are key for enhancing transparency and combating illicit financial activities across various sectors.
Professionals must first perform rigorous customer due diligence, which involves meticulously verifying the identity of their clients. This initial step is fundamental to understanding who they are dealing with and assessing potential risks. Additionally, they are responsible for identifying and verifying the beneficial owner behind transactions, ensuring that the true individuals controlling or benefiting from financial arrangements are known. This measure helps prevent the use of shell companies or complex structures to obscure ownership.
The system also obliges accountants to proactively detect suspicious transactions and report any suspicions promptly to the relevant authorities. This reporting mechanism is a cornerstone of effective anti-money laundering efforts. Crucially, the directive includes an exemption for the reporter, protecting them when disclosures are made in good faith, thereby encouraging timely and honest reporting without fear of reprisal. Professionals are required to ensure careful document preservation for all relevant records pertaining to client identities, transactions, and risk assessments. This ensures an auditable trail for regulatory oversight. The final task involves establishing strong compliance and internal control programs within their practices to ensure continuous adherence to the new regulations and foster a culture of vigilance against financial crime.
System Development and Implementation
The full prevention and combating system was meticulously developed by a dedicated working group. The Minister of Finance established this specialized group by a decision dated January 7, 2025, specifically to create the regulatory framework and detailed guidelines for the new measures. Their work culminated in a system designed to be both effective and practical for the professional accounting community.
The system officially entered into force following a decision issued on April 14, 2026, a date which corresponds to Shawwal 26, 1447 AH in the Islamic calendar. This formal proclamation marked the official commencement of the new regulatory requirements. Further formalizing its implementation and ensuring public access to its stipulations, the full system was subsequently published in Official Gazette No. 38 on May 25, 2026. This publication marked the public release of the detailed requirements for professionals, making all aspects of the new anti-money laundering and combating terrorist financing measures legally binding and transparent.
Support for Accounting Professionals
The National Accounting Council has stated its firm commitment to supporting accounting professionals as they navigate and implement these new anti-money laundering and combating terrorist financing measures. This full support aims to facilitate a smooth transition and ensure high levels of compliance across the entire sector. The Council confirmed that its assistance will encompass the provision of dedicated training programs, specifically designed to educate professionals on the intricacies of the new system, its requirements, and best practices for adherence. Additionally, the Council plans to launch targeted awareness campaigns to highlight the critical importance of these regulations and to guide practitioners through their new responsibilities, ensuring they are well-equipped to meet the challenges of combating financial crime.
