In order to strengthen the control of transactions in order to get out of the grey list of “reinforced surveillance” of the Action group financial (GAFI ) , the wrestling organization Anti-money laundering, Algiers has been committed for several months to a long process.

The entry into force in July of a new anti-money laundering legislation in Algeria has resulted in “massive closures of bank accounts” by natixis Algeria , a subsidiary of group BPCE operating under the Banxy brand, according to the Maghreb news portal Emerging. This has led to various direct consequences such as suspension of Visa cards, the blocking of funds and digital access to bank accounts, based on several customer testimonies on the network social LinkedIn.

The band BPCE reported that “Natixis Algeria closed a few dozen accounts on a total of 40,000 individual customers.” According to him, “the bank notifies the In advance, the customers affected by this decision by giving them the deadline necessary”. The group also indicated that “in accordance with its duty to Vigilance, the bank Natixis Algeria is required to regularly review its customer portfolio. She may be called upon to close accounts after a thorough analysis and in compliance with current regulations, including the new compliance and enforcement provisions of 2024 and 2025 against money laundering.”

noted that Mso-bidi-language:ar-sa"> natixis ; mso-fareast-font-family:calibri; mso-fareast-theme-font:minor-latin; mso-bidi-font-family: “Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:fr; Mso-fareast-language:en-us; Mso-bidi-language:ar-sa"> is present in Algeria since 1999 and is aimed at individuals but also at large businesses, SMEs and professionals. According to information from Mso-bidi-language:ar-sa"> bpce ; mso-fareast-font-family:calibri; mso-fareast-theme-font:minor-latin; mso-bidi-font-family: “Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:fr; mso-fareast-language:en-us; mso-bidi-language:ar-sa">, “since 2021, ; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:calibri; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font:minor-latin; mso-bidi-font-family: “Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:fr; mso-fareast-language:en-us; Mso-bidi-language:ar-sa"> Natixis Algeria ; mso-fareast-font-family:calibri; mso-fareast-theme-font:minor-latin; mso-bidi-font-family: “Times New Roman”; mso-bidi-theme-font:minor-bidi; mso-ansi-language:fr; Mso-fareast-language:en-us; Mso-bidi-language:ar-sa"> is in full growth in a logic of development and support of the economy Algerian thanks to a network of 25 branches, its Banxy mobile banking solution and its 900 employees.”