Sidi Bel Abbes, Algeria – Algerian National Security forces have dealt a significant blow to organized crime with the dismantling of an international money laundering network operating in Sidi Bel Abbes. The operation resulted in the seizure of illicit proceeds exceeding 6.6 billion centimes.
According to a statement released by the National Security services, the operation is part of ongoing efforts to combat organized crime and cut off funding sources for criminal networks. The Economic and Financial Crimes Unit successfully dismantled the transnational organized crime group involved in laundering money derived from illegal drug trafficking. Authorities also recovered a substantial amount of assets and financial gains.
The statement further explained that this operation is an extension of a previous investigation that led to the thwarting of a major drug smuggling attempt and the arrest of key individuals involved. Subsequent investigations focused on tracing the network’s financial trail, utilizing digital evidence and advanced technology.
The investigation led to the arrest of three individuals who allegedly attempted to legitimize criminal funds by channeling them through commercial transactions and exporting goods using falsified invoices and declarations. These activities resulted in significant damage to the public treasury, estimated at approximately two million euros in foreign currency.
The operation, conducted under the supervision of the competent Public Prosecutor’s Office, resulted in the seizure and recovery of 88,800 euros, over 500 million centimes in local currency, and nearly 1 kilogram of gold jewelry with an estimated value of 2.8 billion centimes. Two vehicles and a motorcycle were also seized.
The suspects have been presented before the Public Prosecutor at the Sidi Bel Abbes Court, where they will face charges of money laundering within an organized criminal group and violations of currency and capital movement regulations. DZWatch will continue to provide updates on this developing story.
