An Elusive Criminal Operation Uncovered by Europol
Europol recently provided support for a large-scale operation conducted by Italian and Portuguese authorities targeting two money-mule recruitment networks involved in cryptocurrency scams. Other countries involved in the investigation included Austria, France, Germany, Romania, Spain, and Switzerland. The operation, supported by Eurojust, led to 11 detentions and the dismantling of a sophisticated organised crime group.
The criminal organisation carried out ‘rip-deal’ scams, targeting wealthy individuals looking to invest in properties. The criminals outsourced the money laundering process to two other networks, utilizing money mules to transfer funds. Europol’s report highlighted the growing trend of criminal networks using money mules for illicit activities.
Uncovering a Complex Criminal Network
The investigation, spanning two years, revealed a complex criminal scheme involving families from the Balkans based in France. The perpetrators used cryptocurrencies and sophisticated apps to deceive victims and steal funds from their crypto wallets. Europol’s analysis uncovered multiple money-laundering rings linked to the main criminal group.
European Cooperation Leads to Successful Operation
Europol provided analytical support and coordinated efforts between law enforcement agencies from different countries. Eurojust facilitated cooperation among judicial authorities, leading to the execution of European Investigation Orders and Arrest Warrants. The joint operation resulted in the dismantling of a criminal network and the recovery of millions in stolen funds.
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