Blocking the account of foreign exchange traders with effective action of the Ministry of Intelligence / necessity of continuing intervention to identify currency traders

According to the Ministry of Intelligence, more than 9,000 bank accounts have been blocked after careful and continuous monitoring, according to the owners of these bank accounts in the field of illegal foreign exchange transactions and also رمزارزی They have had a wide range of activities.

According to a well-informed official, in the recent action of the Ministry of Intelligence, 9219 bank accounts belonging to 545 people have been blocked, and the turnover of these accounts reached 60 thousand billion Tomans last year. More than 13,000 bank accounts belonging to 873 people were blocked, and their turnover during the year 1400 reached more than 114 thousand billion tomans.

Interestingly, the announcement of the arrest of five currency disruptors and Blocking The bank accounts of illegal foreign exchange activists in December of last year coincided exactly with the beginning of the fall of the dollar through the channel of 31,000 Tomans, which in a way shows the effect of such measures on the cessation of illegal activities.

Now, along with the implementation of the plan to popularize subsidies and create inflammation in the market of basic goods, in recent days, the movements of brokers and illegal currency activists have intensified again.

Overnight trading and exchange rate channels in cyberspace, in recent years as an influential factor in the foreign exchange market, generally relying on foreign policy news or domestic news, usually in unusual circumstances, such as the first days after the announcement of new rates for some basic goods. They raise themselves and often claim that the exchange rate is higher than the actual trading figures. This makes some of the central bank’s actions to intervene in the market ineffective.

According to economists, continuous monitoring of traders’ bank accounts and the investigation and monitoring of suspicious transactions can play an effective role in preventing unauthorized foreign exchange transactions, which ultimately leads to the outflow of capital and devaluation of the rial.

Unruly buying, selling and keeping currency is considered smuggling

On the other hand, according to the Law on Combating Commodity and Currency Smuggling, any purchase and sale of currency in a context other than authorized exchange offices and banks is illegal. The fight against money laundering by banks has provided an opportunity for profiteers to use leased accounts to further their goals.

Trades رمزارزی It is another issue that leads to disruption of the foreign exchange market. Due to the lack of relevant laws in this area, unauthorized exchanges make significant transactions on a 24-hour basis, but legally none of the agencies are in charge of supervising them. A recent announcement by the Ministry of Intelligence shows that in order to maintain calm in the foreign exchange market, exchanges رمزارزی It is also located in the information umbrella of monitoring devices.

Continuation of intervention to identify currency disruptors

In this regard, Sasan Shahvisi, an economic expert, saidوگو With the economic correspondent of Fars News Agency, referring to the action of the Ministry of Information regarding Blocking Bank accounts Disruptors “The government’s intervention and control tools in the foreign exchange system are due to the regulation of market affairs,” he said. In other words, in a situation where the market is in turmoil, it is necessary for regulators to enter the market.

He added: “When the market is in a state of instability and speculation, the government should intervene to manage the situation.” This is a priority in all economies of the world.

Shahvisi continued: “Past experiences show that in any period when regulatory bodies and control instruments have not entered the stock market, currency, coins and gold, there is chaos in the processes and therefore, intervention in the markets is necessary.”

Referring to the need for cooperation between other institutions and the Ministry of Intelligence and other control and monitoring institutions, the economist said: “One of the most advanced institutions in this field is the Ministry of Intelligence, which uses its tools to prevent the outflow of Rial funds.”

He said that the interactions and interventions of regulatory bodies in the market should be continuous, adding: “Apart from these interactions, it seems necessary for the government to implement coordinated policies, such as directing financial flows to production, by the government.”

Shahwaisi stated: It is unreasonable to expect regulators and intelligence agencies to fully organize the markets. It is necessary for institutions such as the penitentiary, law enforcement, the Anti-Corruption Headquarters and other market regulators to get involved in order to increase its effectiveness.. Of course, the role of the Consumers and Producers Protection Organization can also play a prominent role in this area.

According to Fars, based on what has been said, there are various methods and ways for the continuation of illegal activities in the foreign exchange market, and now the executive bodies need to be strictly enforced by the law, and the judiciary will deal severely with Disruptors And the parliament, by monitoring and enacting laws, should take the necessary steps to stop these destructive activities.

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