Customs Services: Algerian Businessmen, Importers Hide Cash Safely in Five Countries

Official sources from the General Directorate of Subsequent Control told Echorouk, on the sidelines of the national meeting of customs’ frames, on the recent sector’s strategy, that their services identified a list of 5 countries, which granted fiscal privileges for customers without imposing conditions to confirm the source of cash, which enabled a large number of counterfeiters and importers from businessmen and fake companies to transfer thousands of billions, by opening financial accounts in these countries.

“Currency smugglers outward rely on new methods and clever ways to evade the competent authorities’ control, as evidence, the General Directorate of subsequent control recorded a significant rise of irregularities that are related to the smuggling of capital abroad, during the year 2015 compared to the previous one, as fake companies, traders and investors smuggled about ZDZ 77 and 595 million centimes over the past year, compared to the smuggling of ZDZ 68 billion in 2014. “

“By tracking these funds, and after in-depth investigations and scrutiny of the transactions from one account to another, it is revealed that the smugglers have financial accounts in 5 countries, which are the United Arab Emirates, Dubai, Abu Dhabi, Beirut in Lebanon, and in a number of the British Isles and some provinces in Switzerland, Spain, and the various suspicious financial transactions with these countries are done by multiple financial transfers, to evade control and employ their money in different projects in these countries.”

“This data paid the need to make more efforts and update the plan of action to tackle the gangs of money smuggling out of the country, as the customs administration is currently working to impose permanent control that targets largest importers and economic operators, who import large quantities from their production’s income.