Office des changes strengthens controls to combat capital flight in Morocco

Morocco’s Office des changes is intensifying its oversight to combat capital flight, utilizing advanced data analytics and artificial intelligence to enhance investigations. According to its 2025 management report, inspectors scrutinized 2,521 files involving foreign currency transactions totaling 72.3 billion dirhams. Of these, 172 cases were referred for litigation.

Approximately 79% of the audited files involved legal entities, with 58% related to banks and currency exchange operators, while 21% involved large companies and SMEs. The remaining 21% concerned individuals. Major infractions identified include the failure to repatriate export proceeds, irregular transfers for goods and services, and the holding of assets abroad outside of regulatory frameworks.

Authorities are specifically monitoring transactions involving Spain, where Moroccan citizens are frequent buyers of property, as well as potential circumvention routes through Dubai and Hong Kong. The agency is also increasing scrutiny on casino-related activities to ensure compliance with exchange regulations.