Sidi Bel Abbes, Algeria – Algerian National Security forces have dismantled an international criminal network involved in large-scale money laundering operations. The operation, conducted in the Sidi Bel Abbes province, represents a significant blow to organized crime in the region.
According to a statement released by the National Security directorate, the criminal network was primarily engaged in laundering proceeds derived from illicit drug trafficking. Authorities seized over 6.6 billion centimes (approximately $48 million USD) in criminal proceeds during the operation.
The investigation, led by the Economic and Financial Crimes Unit, targeted a transnational organized crime group allegedly involved in laundering drug money. The operation resulted in the recovery of substantial financial assets and properties.
Authorities stated that this operation stemmed from a previous investigation that led to the interception of a significant drug shipment and the arrest of key individuals involved. Subsequent investigations focused on tracing the financial flows of the network, utilizing digital forensics and advanced investigative techniques.
The investigation led to the arrest of three individuals allegedly involved in the criminal organization. These individuals are accused of attempting to legitimize illicit funds by channeling them through commercial transactions and exporting goods using falsified invoices and bank statements. These actions caused significant damage to the public treasury, estimated at approximately two million euros in foreign currency.
The operation, conducted under the supervision of the Public Prosecutor’s Office, resulted in the seizure of 88,800 euros, over 500 million centimes in local currency, and approximately one kilogram of gold jewelry valued at an estimated 2.8 billion centimes. Additionally, two vehicles and a motorcycle were confiscated.
The suspects have been presented before the Public Prosecutor at the Sidi Bel Abbes court, where they face charges of money laundering within the framework of an organized criminal group and violation of currency and capital movement regulations. DZWatch will continue to follow this developing story.
