Egypt Seizes Assets Worth Billions in Largest Anti-Money Laundering Campaign
The Egyptian Public Prosecutor's Office has launched extensive campaigns to combat money laundering crimes, achieving significant strides over the past two years. These efforts included investigating 437 cases and referring many to economic courts. They seized cash and real estate assets valued at over 7.89 billion Egyptian pounds, in addition to $31.82 million, while also tracking and confiscating funds related to cryptocurrency trading. Moreover, authorities managed to dismantle networks that used blockchain technologies to conceal the sources of illicit funds. They emphasized that their efforts are ongoing to seize all proceeds of crime and to bolster national economic stability.
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