Moroccan Authorities Uncover Influencers’ Illegal Foreign Property Purchases

The Office detected this irregularity thanks to its service dedicated to monitoring foreign exchange operations carried out by individuals, created since 2018. This monitoring has revealed that influencers and content creators on the Internet do not transfer to Morocco the income from the services provided, explained Hassan Boulaknadel, Director General of the Foreign Exchange Office, to the newspaper Assabah.

Some influencers have thus bought real estate or financial assets, created companies or even opened bank accounts abroad, without obtaining prior authorization from the Foreign Exchange Office, said the official, inviting influencers and content creators to repatriate their income to Morocco within a maximum of 90 days after providing the service.

The other irregularity noted by this monitoring service of the Foreign Exchange Office concerns the non-compliance with the regulations of the exchange law by these influencers and content creators.