Europol Arrested An Organized Criminal Group who laundered 12 Million Euros

An international law enforcement operation led by the Spanish National Police and the US Secret Service and coordinated by Europol has dismantled an organized criminal group involved in money laundering. The operation also involved law enforcement agencies in Austria, Denmark and Greece, the US Department of Justice and the US Financial Crimes Agency (FinCEN).

According to Europol, on October 6, 2020, law enforcement officers searched more than 40 homes, arrested 37 suspects (two in Austria, 11 in Greece, 23 in Spain and one in the UK) and seized 13 luxury car

In total, 105 suspects were arrested during the operation, searches were carried out in 88 houses, 14 luxury cars and 406 thousand euros were seized in cash, and 87 bank accounts with 1.3 million euros were arreste

The criminal group, consisting mainly of Greek citizens, was involved in registering shell companies in the United States and opening accounts for them. In order to win the trust of financial institutions, criminals transferred money to these accounts from different parts of Europe. Based on trust, banks issued debit and credit cards for these accounts. The fraudulent retailers, mostly from Spain, used the cards to fund the available amounts credited to the

To launder the stolen funds, they transferred them to different bank accounts belonging to members of a criminal network located in several EU countries. More than 50 American financial institutions have become victims of these fraudulent activities, having lost more than 12 million euro

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