Europol helps dismantle $23M ‘mafia crypto bank’
Europol and Spanish law enforcement broke a money laundering network that handled over $23 million for migrant smugglers and drug traffickers.
European law enforcement in January arrested 17 suspects of a “mafia crypto bank” who are said to have laundered over 21 million euros ($23.5 million) in crypto for criminal entities in China and the Middle East.
The money laundering services were allegedly carried out on behalf of other criminal networks engaged in migrant smuggling and drug trafficking, Europol said in a May 14 statement.
Spanish authorities said the criminal organization ran a secret informal money transfer system called hawala and was often compensated in crypto.
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