Customs investigate into 500 corruption, currency smuggling and money laundering-related cases

Surveillance customs central department opened investigations into 580 corruption cases in Jan-March. Of them, there were 300 cases related to currency smuggling and money laundering. Economic institutions, Algerian and foreign importers were involved, Echorouk has learnt.

A total of 1,500 cases were introduced to justice. Fines exceeded 18 billion DZ.

According to the same sources, currency smugglers used a new trick to cheat on public authorities. They made customs declarations which did not reflect products real price by inflating purchasing invoices. They also converted currency at national banks legally and kept the largest part of the money at foreign banks.