Algeria launches money laundering probe on back of Panama Papers

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September 10 2018

The government of Algeria has launched a money-laundering investigation based on information revealed by the International Consortium of Investigative Journalists Panama Papers investigation.

The investigation, which involves the abuse of a government-run milk powder subsidy program and laundering the proceeds from the scheme, was revealed in a decision by Switzerland’s Federal Court. The fraud’s alleged masterminds had bank accounts in Switzerland.