However, it is an unregulated activity and characterized by a great volatility which causes an absence of any protection for the consumer, especially since this system seems attractive and easy to use, says a statement by Bank Al Maghrib, the Moroccan Capital Market Authority and the Office des Changes (exchange office).

It is also a process that can be used for illicit purposes, in particular money laundering or the financing of criminal activities.

The financial authorities urge the persons concerned to strictly comply with the regulations in force in this area.

Bank Al Maghrib, the Moroccan Capital Market Authority as regulatory bodies and the Office des Changes prohibit the use of such processes in order to protect the citizen against any legal drift or financial losses, adds the same source.