Egyptian security authorities have continued intensive campaigns against illegal foreign currency trading and currency price speculation, targeting activities carried out outside the formal banking market.
Foreign Currency Trading Cases Detected Within 24 Hours
Efforts by the Public Security Sector, in cooperation with the General Administration for Combating Financial Crimes and various security directorates, resulted in the detection of several cases involving illegal trading in different foreign currencies over a 24-hour period.
The total financial value involved in the cases exceeded EGP 3 million, according to the results of the security campaigns.
Combating Illegal Currency Trading and Speculation
The campaigns are part of ongoing efforts to confront illegal activities connected to the foreign exchange market, including currency price speculation and attempts to conceal foreign currencies from circulation.
The security measures also target unauthorized foreign currency transactions conducted outside official banking channels and practices that could affect the foreign exchange market.
Legal Action Taken Against Suspects
Following the detection of the cases, the necessary legal procedures were taken against the incidents and suspects, as the relevant investigations and legal measures continue.
Security authorities are continuing their campaigns against illegal foreign currency trading and other practices involving the circulation of foreign currencies outside the formal banking system.
How much was involved in the foreign currency trading cases?
The total financial value of the cases detected within 24 hours exceeded EGP 3 million.
Which security authorities participated in the campaigns?
The Public Security Sector, the General Administration for Combating Financial Crimes, and various security directorates participated in the operations.
What is the purpose of the security campaigns?
The campaigns aim to combat illegal foreign currency trading, currency price speculation, and transactions conducted outside the formal banking market.
What legal measures were taken?
The necessary legal procedures were taken against the incidents and the suspects.
