23 Hrs
Source:
اليوم السابع
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Understanding money laundering and concealment Methods
The article discusses the topic of money laundering, explaining that it is the process of hiding the true source of funds resulting from crimes such as fraud and corruption, with the aim of making them appear to originate from legitimate activities. The methods used in money laundering include purchasing real estate and vehicles, establishing companies, and investing money in commercial activities to disguise the connection to the original crime. Investigations have indicated an attempt to launder around 130 million Egyptian pounds through the acquisition of various assets. The involved individuals admitted to creating an offshore shell company to exploit it in swindling citizens for migration purposes and to smuggle their money, while attempting to conceal unlawful funds behind legitimate activities. The authorities focus on tracking the movement of money and assets linked to crimes to prevent the perpetrators from benefiting and to punish them, through the seizure and recovery of proceeds from crimes and legal measures against those involved in money laundering operations.
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