Moroccan Officials Under Investigation for Undeclared Foreign Assets and Bitcoin Trafficking

"The Exchange Office has been tasked with scrutinizing suspicious transactions involving Moroccan officials," reports Assabah. Those concerned would be the subject of an ongoing investigation into the trafficking of virtual currencies abroad, particularly bitcoin, specifies the daily, adding that the names of these officials were cited by people involved in this trafficking who admitted to having changed the names and surnames of dual nationals in their foreign identity documents, which did not facilitate their identification.

But with the assistance of European financial authorities, investigators from the Exchange Office managed to identify these Moroccan officials who were using companies to invest in European stock exchanges, in Canada and in Gulf countries. "The investigation has identified ten Moroccans, businessmen and officials, owning companies whose value of investments, funds and real estate would be in the order of billions," reveals the same source.

Those implicated could be banned from leaving Moroccan territory until the investigation is completed, emphasizes the publication, which recalls that the competent Moroccan authorities will have no difficulty tracking down these fraudsters, as Morocco has signed the multilateral agreement for the automatic exchange of information relating to financial accounts. For its part, the Exchange Office ensures compliance with regulations, control of foreign exchange operations and the publication of foreign trade statistics.