Tunisia

New Documents

MENAFATF: Fourth Follow-Up Report on Tunisia Re-Rates Technical Compliance with AML/CTF Recommendations

The Middle East and North Africa Financial Action Task Force issued a fourth enhanced follow-up report on Tunisia’s efforts to address the remaining anti-money laundering and counterterrorist financing deficiencies, highlighting that the country improved compliance with nine FATF Recommendations.

January 7, 2020

MENAFATF Issues Third Follow-Up Report on Tunisia

The Middle East and North Africa Financial Action Task Force published a third enhanced follow-up report on Tunisia’s efforts to address the remaining anti-money laundering and counterterrorist financing deficiencies in the country.

January 28, 2019

TI Contends Sanctions Against Relative of Zine el Abidine Ben Ali Should Remain in Place

January 4, 2019

MENAFATF: Tunisia Improves Compliance with FATF Recommendations

January 30, 2018

Transparency International Urges Tunisia to Rescind Corruption Amnesty Law

September 14, 2017

News

Midweek Roundup: Standard Chartered Rescreens Clients, London Lender Settles Sudan Sanctions Violations, and More

AML problems persists at Swedbank, Nordea hit with tax penalty, and more, in the midweek roundup.

September 18, 2019

Weekly Roundup: Deutsche Bank Under US Criminal Probe, UK Officials Fine Bank of Scotland, and More

FATF penalizes Iran, Facebook’s new cryptocurrency draws regulatory scrutiny, and more, in this week’s roundup.

June 21, 2019

Weekly Roundup: Credit Suisse Execs Avoided AML Training, Bank Records on Land Deals Involving Trump’s Son-in-Law Subpoenaed

February 16, 2018

Weekly Roundup: IRS Targets Digital Currency, EU Lawmakers Blacklist Host of Nations, and More

February 9, 2018

Weekly Roundup: Australian Banks Allegedly Launder $4 Million a Day, Iran Reorganizing Companies to Avoid US Sanctions, and More

September 15, 2017

Enforcement Actions

0 Items Found

Key Documents

Tunisia Amends Its AML/CTF Law

August 12, 2009

Important Facts

  • The U.S. State Department identifies Tunisia as a monitored jurisdiction. Tunisia is not considered a regional financial center. Tunisia has strict currency exchange controls which authorities believe mitigate the risk of international money laundering. There is a low level of organized crime in Tunisia. The primary domestic criminal activities that generate laundered funds are clandestine immigration, trafficking in stolen vehicles and narcotics. Money laundering occurs through the financial sector, especially through informal economic activity involving smuggled goods. Since Tunisia has strict currency controls, it is likely that underground remittance systems such as hawala are prevalent. Trade-based money laundering is also a concern. Throughout the region, invoice manipulation and customs fraud are often involved in hawala counter-valuation. Reports of corruption and other financial crimes have been increasing since the revolution in 2011. Furthermore, the country is often used to facilitate the smuggling of weapons and contraband used to support terrorist groups, including al-Qaida.
  • KYC Covered Entities: Banks, microfinance institutions, and financial intermediaries; company and asset managers; real estate brokers and agents; dealers of precious metals, jewels, precious stones, or high-value goods; and managers of casinos
  • STR Covered Entities: Banks, microfinance institutions, and financial intermediaries; company and asset managers; real estate brokers and agents; dealers of precious metals, jewels, precious stones, or high-value goods; and managers of casinos
  • Enhanced Due Diligence Procedures for PEPs: Foreign: Yes; Domestic: Yes
  • Money Laundering Criminal Prosecutions/Convictions: Prosecutions: N/A; Convictions: N/A
Source: 2016 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013 Methodology

Technical Effectiveness
Compliant : 10 High : 0
Largely Compliant : 26 Substantial : 0
Partially Compliant : 4 Moderate : 5
Non-Compliant : 0 Low : 6

No longer a "graylisted" country as of Oct. 18, 2019. Tunisia's technical compliance was re-rated in a Nov. 28, 2019 follow-up report

BASEL i

Rank : 56/141
Score : 5.4/10

TRANSPARENCY INTERNATIONAL i

Rank : 74/180
Score : 43/100

Tax Justice Network i

Rank : 78/133
Score : 66/100