Europol has supported Spain in dismantling a criminal organisation
providing large-scale crypto money laundering services to other criminal
The criminals carried out several money laundering schemes involving
the transfer from fiat currency to virtual assets to hide the illegal
origin of the proceeds. Some of the identified modi operandi used crypto
ATMs and smurfing, a criminal method used to split illicit proceeds
into smaller sums and placing these small amounts into the financial
system to avoid suspicious transaction reporting.
- The Spanish Civil Guard (Guardia Civil) arrested eight people
and charged eight more for involvement in the crypto money laundering
- Seven houses were searched, including a money exchange office and an indoor cannabis cultivation plant.
- Eleven vehicles, €16 800, close to 200 cannabis plants, two crypto
ATMs, computers, devices, jewels and relevant documents were seized.
- Spanish authorities froze four ‘cold wallets’ and 20 ‘hot wallets’,
to which €9 million was…