Regulatory Alerts2019-01-01
Circular Letter No. (6) of 2019 Regarding the Investigation of Money Laundering Crimes
The Office of the Public Prosecutor of Egypt issued Circular Letter No. 6 of 2019 to standardize the investigation and prosecution of money laundering crimes by establishing specialized jurisdiction and procedural guidelines for prosecutors. The directive mandates strict adherence to the Anti-Money Laundering Law of 2002, detailing the legal definition of predicate crimes, laundering patterns, applicable penalties including imprisonment and fines, and the liability of legal entities and their managers. It further outlines investigative powers such as asset freezing, travel bans, bank account access, whistleblower immunity, international cooperation mechanisms, and the exclusive jurisdiction of Economic Courts over such cases.
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