Morocco’s customs authorities have ramped up efforts to track the growing use of gold in money laundering schemes linked to illegal activities, including drug trafficking.
New information from the National Customs Brigade’s risk analysis unit reveals a surge in the exploitation of gold to launder money, particularly in transactions connected to illicit drug sales.
Customs inspectors have intensified their checks at key gold production, import, export, and sales points, as well as at registration offices and customs seals across the country.
The heightened vigilance, in coordination with Morocco’s National Police and the Royal Gendarmerie, focuses on tracking gold’s role in settling drug-related transactions and laundering illicit funds. Authorities have identified increasing levels of gold circulation in cities like Casablanca, Marrakesh, Rabat, Kenitra, and El Jadida, where illegal gold purchases and sales are suspected.
Investigators say that drug trafficking networks are increasingly using gold to settle deals quickly, aiming to bypass cash transactions and banking systems.
These networks have exploited rising gold prices and growing demand to infiltrate legitimate gold markets, despite stringent oversight. The trend is particularly noticeable in major urban areas.
Customs authorities are also collaborating with financial institutions to monitor gold-related transactions, with a focus on detecting money laundering activities.
Professionals are being closely watched to ensure they comply with international regulations requiring the reporting of large transactions and suspicious activities. Morocco is committed to global anti-money laundering standards set by organizations like the Financial Action Task Force (FATF), which involves stringent checks on gold-related trades, including verifying the identities of buyers and sellers.
In addition, customs officials are scrutinizing serial numbers and registered seals on gold items seized in drug trafficking busts, as part of a broad market intelligence effort to trace the origins of the illicit trade.
This is a response to the increasing use of gold in laundering money by both Moroccan nationals and foreign individuals involved in suspicious activities.
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