The Berat Prosecutor's Office has requested precautionary measures against 11 individuals accused of operating an illegal financial activity by providing currency exchange services without the required authorization from the Bank of Albania.
According to prosecutors, a proactive investigation lasting approximately six months uncovered an unlawful currency exchange network operating through six commercial businesses across five municipalities in Berat County.
The prosecution has requested the precautionary measures of house arrest and mandatory reporting to judicial police for suspects identified by the initials S.T., H.S., M.M., S.H., S.C., A.H., A.S., O.V., Z.M., E.T., and K.P.
Businesses allegedly exchanged foreign currency without a license
Investigators say the suspects managed businesses legally registered as agents providing money transfer services on behalf of non-bank financial institutions, including UnionNet and Western Union, serving customers in Berat and Kuçovë.
However, prosecutors found that none of these businesses appeared on the Bank of Albania's official list of licensed foreign exchange offices, despite allegedly carrying out currency exchange transactions for customers on a regular basis.
Authorities argue that the businesses exceeded the scope of their legal authorization by offering foreign exchange services without obtaining the mandatory license.
Undercover operations documented the alleged illegal activity
To gather evidence, prosecutors authorized undercover investigative techniques, including covert photographic and video surveillance, as well as controlled test transactions.
During the investigation, law enforcement officers conducted 28 undercover currency exchange transactions, which prosecutors say confirmed that the suspects were repeatedly exchanging foreign currencies without the legally required authorization.
Large amounts of cash seized
Following searches carried out as part of the operation, authorities seized significant amounts of cash, including:
- Approximately 88 million Albanian lek;
- €118,000;
- US$7,390;
- £665.
The seized funds will undergo further examination as investigators work to determine their origin and whether they were generated through the alleged illegal financial activity.
The investigation remains ongoing as prosecutors seek to establish whether additional individuals were involved and whether the suspected unlicensed currency exchange operation extended beyond the businesses identified in the case.