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Upgrading customs systems guarantees curbing money laundering

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December 9, 2022
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Upgrading customs systems guarantees curbing money laundering

by News Wires
December 9, 2022
in Business
Egyptian Finance Minister Mohamed Maait

Egyptian Finance Minister Mohamed Maait

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CAIRO – Head of the Egyptian Customs Authority (ECA) El-Shahat Ghaturi affirmed ECA’s keenness on overhauling the performance of the customs systems and administrations world-wide, with a view to fighting money laundering and the smuggling of goods by land, sea and air.

A statement issued by the Ministry of Finance said a session of the World Customs Organization (WCO) Policy Commission held earlier in Bahrain shed light on the importance of all customs-upgrade drives to help uncover trans-national smuggling operations, points, destinations and routes and identify implicated risks.

The ECA head underscored the importance of continued coordination between the WCO members to protect the environment, intellectual property rights, as well as other entitlements, in line with the WCO 2025 strategy that aims at establishing pillars of financial automation and sustainability.

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