Question 1

Who receives suspicious transaction reports in Morocco?

Accepted Answer

The Autorite Nationale du Renseignement Financier, or ANRF, is Morocco's financial intelligence unit. Reports must follow its current prescribed channel and format.

Question 2

What beneficial-owner threshold applies under Bank Al-Maghrib's circular?

Accepted Answer

For a company, identify a natural person who directly or indirectly holds more than 25% of capital or voting rights, and anyone exercising effective control by other means. The control test applies even when no one crosses the percentage threshold.

Question 3

Can banks and payment institutions onboard customers remotely?

Accepted Answer

Yes, subject to Bank Al-Maghrib Letter Circular 1/DSB/2020. The technology must provide risk-based equivalence to physical presence, authenticate identity documents, mitigate fraud and protect personal data.

Question 4

Must a business notify the CNDP before KYC processing?

Accepted Answer

A controller must complete the applicable prior declaration or obtain written authorisation before implementing processing. The underlying processing must be cleared before a foreign-transfer request, which must rely on an adequate destination, Article 44 exception, international agreement or express reasoned CNDP authorisation with appropriate safeguards.

Téléchargez la checklist KYC, KYB et AML pour Maroc

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Téléchargez la checklist KYC, KYB et AML pour Maroc

Recevez le PDF immédiatement

Revue et sourcée

Vérifiez une fois. Partout.