Egypt’s Ministry of Interior continued its intensive security campaigns targeting illegal foreign currency trading and currency speculation, particularly transactions conducted outside the formal banking system.
The campaigns aim to combat practices involving the concealment of foreign currencies from circulation and their illegal trading, which authorities say can have negative effects on the national economy.
Foreign Currency Trading Cases Uncovered
Over a 24-hour period, efforts by the Public Security Sector, in cooperation with the General Administration for Combating Public Funds Crimes and various security directorates, resulted in the detection of several cases involving the illegal trading of different foreign currencies.
The total financial value involved in the cases was estimated at nearly EGP 13 million, according to the security authorities.
Crackdown on Illegal Currency Trading
Security authorities continue to target individuals involved in illegal foreign currency trading and currency speculation, particularly transactions conducted outside official banking channels.
The campaigns form part of broader efforts to combat public funds crimes connected to the foreign exchange market and unauthorized currency transactions.
Legal Procedures Taken
The necessary legal procedures were taken in connection with the cases, and the incidents were referred to the Public Prosecution for investigation.
The competent authorities are continuing to examine the cases and take the legally prescribed measures based on the findings of the investigations.
How much were the illegal currency trading cases worth?
The total financial value of the cases was nearly EGP 13 million.
Which authorities participated in the campaign?
The Public Security Sector, the General Administration for Combating Public Funds Crimes, and security directorates participated in the campaign.
What is the purpose of the currency crackdown?
The campaign targets illegal foreign currency trading and currency speculation outside the formal banking system.
What happened after the cases were uncovered?
The necessary legal procedures were taken, and the Public Prosecution began investigating the cases.
