Several arrested in raid on suspected illegal cambio

The cambio visited by SOCU

Several individuals were arrested on Wednesday as the Special Organised Crime Unit (SOCU) carried out a targeted joint law enforcement operation at a money exchange business on Lombard Street in Georgetown.

The operation was launched following what law enforcement officials described as credible information that illicit activities were taking place at the premises. The cambio is owned by Nazar Mohamed and his son, Azruddin Mohamed. Both men are sanctioned by the United States for alleged gold smuggling, money laundering and tax evasion. The cambio in question was closed following the US sanctions.

SOCU said officers uncovered evidence of suspected illegal financial operations during the exercise and seized additional materials believed to be linked to unlawful activities. The items are now subject to forensic and financial analysis as investigations continue.

Those taken into custody are assisting with ongoing enquiries. Authorities said further enforcement action will be taken if warranted by the evidence, and charges are expected to be laid shortly.
SOCU stated that the operation forms part of an intensified national and regional security strategy aimed at disrupting organised criminal networks involved in gold smuggling, illicit financial flows, unlicensed money exchange operations and other serious offences.

According to SOCU, the action reflects strengthened coordination among domestic law enforcement agencies and regional partners to combat cross-border criminal activity and safeguard the country’s financial system.