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algerie business english

11 billion dollars of illicit flows in 2015 for Algeria



Algeria recorded an average illicit flow estimated at $ 11 billion in 2015, calculated on the basis of a UN report that estimated it at $ 8 billion, against $ 14 billion for the International Monetary Fund (IMF) , and referring to overcharging and under-invoicing related to foreign trade, revealed the financial expert, Mohamed Boukhari, at the same meeting.

In addition, Algeria had registered in 2017 no less than 1239 declarations of suspicion emanating from national banks as well as 180 confidential reports from certain administrations, including customs, he added.

In this regard, he said that, like the rest of the States, Algeria closely follows the movement of capital through the Financial Intelligence Processing Unit (CTRF), under the Ministry of Finance, adding that « no country foreigners can not guess that a person must be closely followed as long as his or her country of origin does not request it « .

For this economist, the possibility for Algeria to recover funds illegally transferred abroad is conditioned by « the existence of adequate structures » to do so, indicating that « for a person to be put behind bars, he reasonable grounds « .

The expert was also against the idea of ​​ »amnesty » a suspected person, calling the issue « ethically unacceptable », and advocating this procedure only when it is « difficult » to otherwise recover illicitly repatriated funds.