The National Intelligence and Security Service (NISS) has taken measures against bodies that were engaged in illegal money laundering activities in collaboration with Ethiopian Federal Police.    

According to the statement of NISS sent to mass media that extensive and detailed studies had been made in the last two months on illegal foreign currency movements.  

After identifying essential problems of illicit financial flows and money laundering across the country, relevant information and documents were collected. Further more, integrated operations were carried out on participants of illicit financial flows or illegal currency movements and about 48 individuals were seized, along with their different foreign currencies, bank books and financial documents, the statement stated. 

Individuals seized in illicit financial flows and money laundering were participants of fixing the price of foreign currencies and engaged in collection of different foreign currency noted, the statement underlined.  Illegal foreign exchange activities were done using trade organizations, retailer shops, boutiques, groceries, supermarkets and vehicles as a cover.

The national intelligence and security organization (NISS) indepth studies has indicated that the undergoing illicit financial flows and money laundering activities have a target to hide money earned through crimes through smuggling out , depreciate the total foreign currency reserve of the country, encouraging inflation and creating  economic  sabotage  the statement  disclosed.    

Some of individuals suspected of illicit financial flow were closly linked and worked with supporters of a terrorist organization of TPLF, who smuggled foreign currencies to Tigray . And this was part of internal and external efforts to move out resources and drop foreign currency reserve, the statement unveiled.

According to the NISS statement, networks of illicit financial flows and money laundering were established from Ethiopia to Somaliland Hargessa, Dubai, USA and individuals from other countires were also involved. 

NISS and other security organizaions will continue carry out strict measurements and controls against individuals participating in illicit financial flows and money laundering using different updated technologies, the statement stated.

Finally , NISS has appreciated  the  public  for  its  contributions  of providing  valuable  information  to defend  illegal economic activities  and also  called  the public  to strengthen   its  effort  of supporting intelligence and security organizations  , it reiterated.