Agadir – The Insurance and Social Security Supervisory Authority (ACAPS) hosted a meeting on February 3 in Rabat, bringing together significant parties from Morocco’s insurance sector.
The event aimed to strengthen cooperation between the sector and national authorities in the fight against money laundering and terrorist financing.
It brought together the Moroccan Insurance Federation (FMA), the National Federation of Insurance Agents and Brokers in Morocco (FNACAM), insurance and reinsurance companies, alongside national institutions actively involved in financial crime prevention. These include the National Financial Intelligence Authority (ANRF), the National Commission for the Implementation of UN Security Council Sanctions on Terrorism and Weapons Proliferation (CNASNU), and the Moroccan Office for Industrial and Commercial Property (OMPIC).
Participants reviewed significant progress achieved in recent years. Collaborative efforts between authorities and sector actors have allowed Morocco to meet its commitments under the Financial Action Task Force’s enhanced monitoring, leading to its removal from the grey list in February 2023.
Meanwhile, ACAPS has continued to contribute to national initiatives aimed at strengthening AML/CFT measures and supporting the insurance sector in compliance and risk management.
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In terms of future projections and ambitions, the gathering focused on Morocco’s upcoming mutual evaluation scheduled for 2026 by the Middle East and North Africa Financial Action Task Force (MENAFATF). This assessment will examine the sustainability of reforms and the overall effectiveness of the national AML/CFT framework, including insurance-specific measures.
The meeting also highlighted practical steps to enhance the effectiveness of anti-money laundering and counter-terrorist financing measures, including client verification and monitoring requirements, improving coordination among stakeholders, and reviewing the latest national risk assessments.
ACAPS shared insights from its supervisory actions, including common challenges in implementing AML/CFT measures insurance companies face and provide guidance for following regulatory requirements.
This gathering is part of ACAPS’ ongoing roadmap to support the insurance sector in preventing financial crime, ensuring that the measures are effective and aligned with international standards.
