Morocco Investigates MRE Casino Money Laundering Scheme

The investigations were opened following the transmission of information by Spanish financial control bodies. They notably mobilize the services of the Administration of Customs and Indirect Taxes and the Foreign Exchange Office, in coordination with other competent bodies.

On Bladi.net : Morocco Investigates Illegal Investment Transfers to France and Singapore

According to Hespress, investigators are interested in sums that were allegedly exchanged through informal networks, then introduced into casinos in order to give them a legal appearance before their deposit into bank accounts abroad.

Some suspects allegedly split their transfers into several payments to stay below the thresholds requiring a declaration. Part of the money was also allegedly recycled through fictitious operations of gains and losses in gaming rooms.

Reinforced border controls

The research focuses on currency declarations at border posts, international bank transfers and exchange operations carried out by Moroccan tourists or people usually residing in Europe.

The authorities also suspect certain intermediaries operating around airports or in manual exchange offices of having contributed to concealing the origin of significant sums in foreign currency.

Several names allegedly appeared in international databases dedicated to combating money laundering and smuggling. Investigators are now examining the financial relationships and movements of these individuals between Morocco, Spain and other European countries.

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Vigilance has been reinforced in Moroccan ports and airports. Customs officers have been instructed to more strictly control declarations of incoming and outgoing currency, while movements towards tourist destinations in southern Spain are expected to intensify over the coming weeks.