Audit Bureau Freezes 100 Bank Accounts

By John Lee.

The Libya Herald reports that the Tripoli-based Audit Bureau has frozen the bank accounts of 38 companies and 62 individuals suspected of ‘’currency smuggling’’ and using ‘’fake official documents’’.

In October, the Audit Bureau announced a freeze on 160 individual and company accounts, including some linked to the Husni Bey Group, but the following month reversed its freeze on 12 entities including all the Husni Bey companies and individuals.

This is believed to be part of an effort by the Audit Bureau and the Central Bank to tackle the smuggling of Libya’s foreign currency through the opening of false Letters of Credit or the transfer of money abroad without importing goods in return.

(Source: Libya Herald)

No comments yet.

Leave a Reply