Egyptian authorities are continuing their investigations into a number of content creators and influencers on TikTok after new charges related to money laundering and the investment of suspicious profits were brought against them. This reflects a significant increase in oversight of digital content and associated income sources.
The investigation includes well-known TikTokers such as Suzy Al-Urdunia, Madahem, and Shaker Mahzour Delwaaty, after indications of abnormal growth in their bank balances were discovered. They are accused of investing funds from digital activities described as suspicious or illicit.
A team from the Public Prosecution, in cooperation with the Central Banks anti-money laundering unit, is reviewing the defendants accounts and financial movements over recent months. They are also tracing local and international bank transfers received from companies or individuals without any officially registered business activity.
According to Egypts Anti-Money Laundering Law No. 80 of 2002, as amended by Law No. 208 of 2020, Article 14 stipulates that anyone who commits a money laundering crime shall be punished with a prison sentence of no less than five years and a fine equivalent to twice the amount of the laundered funds.
The court may also order the confiscation of laundered funds or assets derived from them, prohibit the defendant from engaging in the related activity or managing the entities involved, and place the convicted person on no-fly lists or airport watchlists.
The penalty is increased if the crime is committed by an organized group, through the use of electronic platforms, or across international borders, potentially extending the sentence to 15 years.
Penalties in money laundering cases are not limited to imprisonment and fines. Egyptian law allows for additional, secondary penalties against defendants if they are convicted. These are designed to ensure comprehensive deterrence and protect the economy from repeat offenders.
These penalties include being banned from engaging in the activity or profession related to the crime. They can also involve the closure of facilities or legal entities used as a cover for money laundering, and may even lead to the permanent dissolution of companies and a ban on founding or managing companies or associations for a period determined by the court.
