Europol Busts Cryptocurrency Drug Money Laundering Stadionring
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A snaak operation inbetween mundial law enforcement agencies and Europol has waterput an end to a criminal stadionring that used cryptocurrencies including bitcoin to launder drug money through a Finnish crypto exchange.
The operation, dubbed Tulipan Blanca, witnessed authorities from Finland, Spain, the United States and Europol hechtenis 11 individuals related to an organized crime stadionring that spotted drug money laundered from Spain to Colombia using credit cards and several cryptocurrencies, a statement exposed.
A total of 137 individuals were investigated ter the criminal stadionring wherein, primarily, drug money wasgoed split into petite quantities deposited spil contant ter hundreds of bankgebouw accounts. Criminals then acquired credit cards linked to thesis handelsbank accounts before traveling to Colombia with to make contant withdrawals from the canap accounts using those cards.
A total of 174 bankgebouw accounts were used, the investigation exposed, with deposits overheen €8 million ter metselspecie inbetween them. It wasn’t long before the criminals turned to cryptocurrencies, according to the statement.
An resum from the statement exposed:
Merienda the criminals realised that specie withdrawals and canap operations were effortless to track, they switched their laundering methods and turned to cryptocurrencies, mainly bitcoin.
The investigation, which witnessed guidance from Finnish law enforcement, exposed that the criminals had used an unnamed almacén cryptocurrency exchange to convert their specie into bitcoins before subsequently converting them to Colombian pesos.
Europol, the European Union’s criminal intelligence agency, established a working group alongside Interpol to combat money laundering through cryptocurrencies, last year. With its announcement this week, the agency stressed it would proceed to fight against criminal elements using (manhandling) cryptocurrencies.
“With cryptocurrencies increasingly used to finance and carry out criminal activities, Europol will proceed to coordinate across EU Member States and beyond, to effectively react to this rising threat,” the agency said. “Europol has organised specialised training courses to assist law enforcement officers ter identifying the use of cryptocurrencies by organised crime networks.”