The Egyptian Public Prosecution announced significant progress in combating money laundering crimes, confirming the referral of hundreds of cases to the Economic Court, in addition to seizing and seizing billions of pounds of cash and real estate assets, including proceeds related to cryptocurrency trading.
The prosecution explained, in a statement, that the number of money laundering cases referred to the Economic Court during the past two years amounted to 437 cases, noting that the investigations resulted in tracking and seizing illicit proceeds and taking the necessary legal measures to confiscate them.
It revealed that the value of the seized cash assets exceeded 7.89 billion Egyptian pounds, in addition to about 31.82 million US dollars, in addition to other foreign currencies and a number of real estate, in preparation for their confiscation in accordance with the law.
The Public Prosecution added that it had taken legal measures against the proceeds resulting from crimes related to cryptocurrencies, as they were tracked and transferred to the “National Wallet” of the Public Prosecution, before they were liquidated and their value was deposited in US dollars in the state’s public treasury.
In the context of combating modern financial crimes, the prosecution indicated its success in dismantling financial networks that used encrypted currencies and blockchain technology to hide the sources of illicit funds. It also confirmed the seizure of unlicensed digital wallets and the tracking of electronic transfers associated with them.
The Public Prosecution stressed the continuation of its efforts in combating money laundering crimes and protecting economic security, stressing that technical development will not prevent justice agencies from prosecuting the perpetrators of financial crimes and tracking their proceeds wherever they are found.
