EBI Publications

They receive suspicious transactions reports from financial institutions, and take the necessary examination and investigation measures in their respect, in coordination with the competent authorities. The Anti-Money Laundering Law No. 80 of 2002 criminalizes the laundering of funds from narcotics trafficking, prostitution and other immoral acts, terrorism, antiquities theft, arms dealing, organized crime, etc. The Law did not rep eal Egypt’s existing law on bank secrecy, but it did provide the legal justification for providing account information to responsible civil and criminal authorities. In 2009 , the Government of Egypt created the Egyptian Financial Supervisory Authority (EFSA), its primary role is to regulate non- banking financial markets and instruments. point or if law-enforcement officials start to show interest, all of that money that will suddenly disappear without any predictable economic cause and that financial sector falls apart. Combating Money Laundering The Egyptian Money Laundering Combating Unit is the Egyptian Financial Intelligence Unit responsible for combating money laundering and terrorism financing in Egypt. It was established in 2002 by virtue of Law no. 80 for 2002 . Their mission is to improve Anti Money Laundering systems in the financial institutions in Egypt in order to prevent them from being used in processing criminal proceeds, or in financing terrorism. The Egyptian Money Laundering Combating Unit is responsible for receiving, analyzing and disseminating financial disclosures to the competent authorities.

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