BY NY Staff
Sources have confirmed that the Central Bank of Yemen is currently investigating a number of National and Foreign Commercial Banks operating within the country. The purpose of the investigation is to learn whether money laundering took place when certain banks executed wire transfers using foreign currencies.
Sources have also stated that the Central Bank detected fraudulent activities by following the movements and activities of the suspected banks. These banks transferred more than two hundred million dollars to foreign bank accounts in recent times.
Source added that the money laundering control unit was now gathering information and performing investigations to discover the manner in which such activities were carried out. Such activities can go towards explaining the drain of hard currencies from the Yemeni market.
In related news, Yemeni customs agents recently found documents containing illegal customs exemptions for a shipment of more than 120 cars which recently entered Yemen. When the issue was raised to figures who were perceived to be responsible for the signed exemptions, they were told the documents were fake. Authorities proceeded to send the documents to a crime lab for examination.
The same sources said that the car cargo had entered Yemen with the help of the son of a powerful government figure. Details are not to be revealed until concerned authorities have verified that fraud had occurred. As a consequence, a major corruption ring could be revealed, in which some powerful government figures were involved.