https://en.hespress.com/99244-money-laundering-on-the-rise-in-morocco-as-crackdowns-intensify.html#google_vignette

Moroccan authorities reported a significant increase in financial crimes, particularly money laundering and forgery, over the past year.

The Directorate General of National Security revealed that cases related to money laundering surged by 27% in 2024, with 656 cases processed.

The report stressed the proactive measures taken by security forces, including the execution of 415 judicial orders for asset seizure and the confiscation of criminal proceeds exceeding MAD 331 million.

While these efforts are impressive, the persistent rise in money laundering activities demands a multi-faceted approach to combat this evolving threat.

Analysis of the data reveals that drug-related crimes remain the primary source of funds for money laundering, accounting for a staggering 45% of all cases.

This trend warrants a robust and coordinated effort to dismantle drug trafficking networks and disrupt their illicit financial flows.

While financial crimes rose, the report also indicated a slight decrease in corruption cases. However, the number of individuals implicated in various forms of corruption, including bribery, embezzlement, and extortion, remained alarmingly high at 689.

The report further detailed a decline in foreign currency smuggling cases, with a 21% drop compared to the previous year.

However, this positive trend was offset by a sharp 32% increase in crimes involving counterfeit currency and forged documents.

Authorities successfully seized over 1,000 counterfeit banknotes and dismantled 31 criminal networks involved in these illicit activities.

Cybercrimes, particularly sophisticated phishing and vishing scams, emerged as a significant threat, causing substantial financial losses.

The security services confiscated 62 electronic devices used for forgery and reported total losses exceeding MAD 25.7 million attributed to these cyber-enabled crimes.

The Directorate General of National Security said that it’s committed to combating financial crimes and enhancing investigative techniques.

The agency has strengthened its specialized units in key cities across the country, including Rabat, Casablanca, Fes, and Marrakech, to effectively address these complex challenges.