EG-CERT contributes to raise Egypt’s rating in the field of combating money laundering
Post Date: September 4, 2024
The National Center for Computer Emergency Readiness Team (EG-CERT) contributed to raise Egypt’s rating in the field of combating money laundering from “partially compliant” to “largely compliant”.
The National Telecom Regulatory Authority (NTRA), represented by EG-CERT, established a national portfolio in cooperation with the Economic Affairs and Money Laundering Prosecution, aiming to seize and preserve virtual assets before transferring them to the Public Prosecution and liquidating it.
This measure contributed to Egypt’s progress in the assessment of compliance with international standards for combating money laundering conducted by the Financial Action Task Force (FATF), and in the group’s last assessment last May, Egypt’s technical compliance rating was raised from “partially compliant” to “largely compliant”.
NTRA was part of a committee that includes the Central Bank and the Administrative Control Authority, as this committee is responsible for implementing the decision to liquidate virtual assets seized by the Public Prosecution.
The National Telecom Regulatory Authority (NTRA), represented by EG-CERT, established a national portfolio in cooperation with the Economic Affairs and Money Laundering Prosecution, aiming to seize and preserve virtual assets before transferring them to the Public Prosecution and liquidating it.
This measure contributed to Egypt’s progress in the assessment of compliance with international standards for combating money laundering conducted by the Financial Action Task Force (FATF), and in the group’s last assessment last May, Egypt’s technical compliance rating was raised from “partially compliant” to “largely compliant”.
NTRA was part of a committee that includes the Central Bank and the Administrative Control Authority, as this committee is responsible for implementing the decision to liquidate virtual assets seized by the Public Prosecution.
