Europol busted underground bankers Connected with Crypto Crimes
Europol, European Union (EU)’s law enforcement agency, has conducted an inter-governmental raid and exposed a complex network of bankers allegedly involved in crypto crime. According to Europol officials, these fraudulent actors were involved in large-scale money laundering operations for criminal activities including drug trafficking, weapons smuggling, among others.
The main goal behind the operation was to stop the hidden financial services that supported criminal groups across Europe and beyond. In this operation, Nine suspects were arrested. The suspects were experts in banking services.
Europol’s united operation has covered six countries. The operation involved teamwork between experts in organized crime and financial investigations. Authorities have enclosed a total of €25 million in cryptocurrencies. €35,000 in cash and other valuable assets like gold and luxury goods were also found. This operation has chased the same efforts as in previous Operations like GORGON and WHITEWALL, focusing on the financial networks of international crime groups.
The findings led to Europol-coordinated action day, in Malaga, Spain. Law enforcement agencies from Belgium, Bulgaria, the Netherlands, and the United States also worked together on it. They carried out a coordinated strike against the underground fraud bankers. Europol and its members have confused the financial networks supporting crimes like drug trafficking, contract killings, and arms smuggling.
These efforts of Europol have weakened the financial infrastructure of organized crime groups. Their ongoing effort shows the importance of intelligence sharing and international cooperation in fighting against crime.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
SEC Commissioner Slams Ripple Settlement as Legal Battle Nears End
A senior U.S. Securities and Exchange Commission (SEC) official has criticized a proposed settlement between the agency and Ripple Labs, potentially marking the final chapter of a years-long legal dispute over the XRP token.

Zerebro Developer Reported Alive Days After Alleged On-Camera Suicide
The mysterious case of Zerebro’s 22-year-old developer, who appeared to shoot himself during a livestream on May 4, took a dramatic turn after he was reportedly seen alive outside his family home in San Francisco.

AI DApps Surge in Activity, Poised to Rival Gaming and DeFi in Web3 Dominance
Artificial Intelligence-powered decentralized applications (DApps) are rapidly gaining ground in the Web3 ecosystem. They may soon challenge the dominance of Gaming and Decentralized Finance (DeFi), according to fresh insights from blockchain analytics firm DappRadar.

Bitcoin ETF Inflows Surge to Record $40.62 Billion

Trending news
MoreCrypto prices
More








