Criminal Network Exposed: Moroccan Authorities Uncover Multi-Sector Money Laundering Scheme

It all begins with an examination by the ANRF of suspicious tax returns. The Authority’s inspectors discovered "the existence of a closed circle of companies, often recent, some created less than five years ago, operating in various sectors such as textiles, clothing, accessory sales, printing, corporate gifts, bakery, chocolate making, security, and cleaning," reports Hespress.

Investigations revealed record-breaking transactions carried out between these companies, whose activities are often outsourced to accounting firms in Casablanca and Tangier, without physical premises, as well as tax declarations within legal deadlines, notably exploiting loopholes in the tax control system, where overvaluation of profits is less suspicious than undervaluation.

Several fictitious transactions are justified by invoices and legal means of payment, such as checks and bank transfers, investigators confirmed. In reality, these massive flows "fed partners’ current accounts, intended to circulate tens of millions of dirhams as part of money laundering operations," the investigation reveals. The modus operandi consists of bringing money of illicit origin, particularly funds from drug trafficking or corruption, into the legal circuit by creating fictitious companies. The objective is to legitimize these financial flows while artificially reducing the taxable base.

The ANRF has transmitted its report to 71 prosecutors in several courts, notably those of Rabat, Casablanca, Fes, and Marrakech, as well as to the Attorney General of the Rabat Court of Appeal. They will have to examine the cases. In 2023, the number of cases related to these matters increased by 31.48%. 38% of them concern bank forgeries, use of false documents, fraud, and scams.