Morocco — Country Risk Report

Morocco (Africa • North Africa). Risk report as of the 19 Jun 2026 FATF plenary.

Moderate country risk, with elevated corruption risk. Morocco's country risk score is 4.5/10, placing it in the moderate-risk band. The principal driver is weak corruption, alongside voice and accountability risk. Morocco is not currently FATF grey- or black-listed. Morocco is not subject to comprehensive country-wide sanctions. Firms should apply additional scrutiny where exposure involves state-linked entities, restricted sectors, sensitive technology, dual-use goods or politically exposed counterparties.

Recommended treatment

Standard due diligence, with enhanced checks for defined risk triggers.

At a glance

  • FATF status: Not currently listed (one indicator only; it does not set the overall country risk rating by itself)
  • Comprehensive country sanctions: none identified. Targeted sanctions exposure: possible, screen applicable persons, entities and sectors
  • Government effectiveness and rule of law: 5.0/10
  • Corruption (CPI 2025): 39/100, rank #91 of 182
  • Enforcement: 8 actions from 1 regulator

Country Risk Score: 4.5/10 (Moderate)

Higher score means higher country risk (global average 4.6). Full information available. Some evidence is older. Enforcement activity and CPI are shown for context but do not change the score.

All three parts of the score are available.

How this score was calculated

  • Financial crime controls: 6.0/10 — 50% of this score
  • Government effectiveness and rule of law: 5.0/10 — 30% of this score
  • International sanctions: 0.0/10 — 20% of this score
  • The FATF assessment is more than five years old.

International sanctions contributes 0.0 because the complete UN, UK, EU and US review found no direct country-level sanctions programme. People or organisations connected to the country may still appear on sanctions lists.

Show the exact calculation

aml 6 × 50% + governance 5 × 30% + sanctions 0 × 20% = 4.5; final 4.5

Principal risk drivers

  • Corruption (WGI) — 6.3/10
  • Voice & accountability — 5.6/10

Mitigating factors

  • Not currently on the FATF grey or black list.
  • No comprehensive country-wide sanctions programme.
  • Comparatively stronger political stability (4.2/10).
  • Risk is concentrated in specific counterparties, sectors and transactions rather than applying uniformly.

Business impact

  • Customer onboarding (Medium): Additional ownership and control verification may be required.
  • Payments and transactions (Medium): Review transaction purpose, counterparties and geographic routing.
  • Trade and export activity (Medium): Screen goods, end users and potential dual-use exposure.
  • Corporate clients (Medium): Assess state ownership, government links and political exposure.
  • Ongoing monitoring (Medium): Apply alerts for ownership changes, sanctions and geopolitical developments.

Recommended controls

  • Verify ultimate beneficial ownership using more than one reliable source.
  • Identify state ownership, government influence and politically exposed persons.
  • Screen entities, directors and beneficial owners against applicable sanctions lists.
  • Apply enhanced review to technology, defence, telecommunications, financial services and dual-use activity.
  • Document transaction purpose and source of funds where cross-border structures are complex.
  • Escalate unresolved ownership opacity or adverse information to Compliance.

Enhanced due diligence triggers

  • State ownership / control
  • PEP involvement
  • Sensitive / restricted sectors
  • Opaque ownership
  • Adverse media
  • Dual-use goods & technology
  • High-risk intermediary routing

FATF status: Not currently listed

Morocco is not on the FATF grey or black list as of the 19 Jun 2026 plenary.

Source details

International sanctions by issuing body

  • UN: No
  • EU: No
  • UK: No
  • US: No

No means the complete UN, UK, EU and US review found no direct country-level programme. People or organisations may still appear on sanctions lists.

Government effectiveness and rule of law (World Bank 2024, percentile)

  • Government Effectiveness: 55/100
  • Regulatory Quality: 54/100
  • Rule of Law: 51/100

Enforcement activity

RegActions tracks 8 enforcement actions from 1 regulator in Morocco.

The composite RegActions Country Risk Score does not use enforcement volume.

Regulators and legal framework

FATF network

FATF network via MENAFATF.

Last mutual evaluation: 2019 · report

National regulators

FIU: Egmont Group member (ANRF)

Framework signals

  • FATF listing: Not currently listed
  • International sanctions: no listed programme identified
  • BO register: Public (live since 2022)
  • Corruption (CPI 2025): 39/100, rank #91 of 182
  • Rule of law (WGI): 4.7/10 risk

Sector exposure

  • Banking & payments (Low): No FATF listing, rule-of-law governance within normal range
  • Trade & export controls (Low): No sanctions programme or FATF black-list constraint identified
  • Crypto & virtual assets (Low): No FATF listing, accountability governance within normal range
  • Real estate & luxury assets (Elevated): Elevated corruption exposure (CPI 39/100)
  • State-linked & procurement (Elevated): State-capture exposure (corruption WGI 6.3/10)

Derived from sanctions tier, FATF listing, World Bank WGI governance and CPI; no per-sector dataset is asserted.

Morocco: analysis

Morocco's profile is entirely governance-driven. Corruption is the dominant risk factor, with voice and accountability adding further weight. Rule of law and institutions and political stability are comparatively stronger domains. Morocco is not on the FATF grey or black list and carries no sanctions exposure. The CPI reading and rank of 98 of 179 place Morocco near the global median of the World Bank governance indicators. No enforcement actions are tracked in the dataset.

Outlook

Morocco's risk is structurally rooted in corruption and accountability constraints. The absence of FATF listing and sanctions exposure is a positive factor. Continued anti-corruption reform and improvements in voice and accountability indicators could ease the picture over time. Firms with Moroccan counterparties should apply proportionate enhanced due diligence, focused particularly on corruption risk.

Key watchpoints

  • Monitor FATF assessment outputs and October 2026 plenary outcomes for any change in Morocco's listing status.
  • Track CPI performance and governance reforms, particularly in anti-corruption and transparency.
  • Apply enhanced due diligence to public-sector connected transactions and politically exposed persons.
  • Assess political risk in relation to voice and accountability constraints when evaluating business relationships.

Assessment currency

  • FATF status: Not listed (as of 19 Jun 2026)
  • Sanctions exposure: None identified (as of Jul 2026)
  • Governance (WGI): Latest dataset incorporated (as of 2024)
  • Corruption (CPI): 39/100 (as of 2025)
  • RegActions assessment: Reviewed (as of 19 Jun 2026)

Public evidence layer

FATF action: none. No FATF call-for-action or increased-monitoring status was identified at the latest plenary. This does not establish low risk.

Contextual signals (not scored)

  • FATF network membership: FATF regional network: MENAFATF (present, as of 2026-07)
  • EU non-cooperative tax jurisdictions: Not listed in Annex I (absent, as of 2026-02-17)
  • Egmont Group FIU: ANRF (present, as of 2026-07-17)
  • Beneficial-ownership register: Public (live since 2022) (present, as of 2026-07-17)
  • Transparency International CPI: 39/100, rank 91 (present, as of 2025)

Evidence freshness

  • FATF monitored-jurisdiction status: current; data 2026-06-19
  • FATF mutual evaluation and follow-up ratings: current; data 2026-07-31; follow-up 2024-05; base assessment 2019-06
  • World Bank governance indicators: current; data 2024
  • UN, UK, EU and US sanctions regimes: current; data 2026-08-13

Contextual signals are public evidence only and do not change the immutable v2 score.

Download evidence PDF · CSV · JSON

Regional peer scores

FAQ

Is Morocco on the FATF grey list?

No. Morocco is not on the FATF grey or black list as of the 19 Jun 2026 plenary. FATF listing is one AML indicator; absence from the list does not by itself make Morocco low risk. The next FATF plenary review is scheduled for Oct 2026.

Is Morocco subject to sanctions?

No country-level programme was identified. In the approved RegActions snapshot, no comprehensive or targeted country-wide sanctions programme was found for Morocco, but individual listed persons may still exist, so firms should continue to screen counterparties against the applicable lists.

What is Morocco's country risk rating?

RegActions rates Morocco at 4.5/10 (Moderate risk), where a higher score means higher country risk. The score combines financial crime controls, government effectiveness and rule of law, and international sanctions. Transparency International's 2025 Corruption Perceptions Index scores Morocco 39/100 (rank #91 of 182).

What due diligence applies to Morocco?

Standard due diligence, with enhanced checks for defined risk triggers. This is decision-support based on Morocco's FATF status, governance and sanctions signals, and is not a substitute for a firm's own risk assessment.

How much enforcement activity is tracked for Morocco?

RegActions tracks 8 enforcement actions from 1 regulator in Morocco. Enforcement volume measures regulator activity, not country risk, so it is shown as evidence but never fed into the RegActions Country Risk Score.

Source: FATF black & grey lists · World Bank WGI (CC BY 4.0 — World Bank WGI) · TI CPI (CC BY-ND 4.0 — Transparency International, display only)