There has been a joint operation between Europol and Global Law Enforcement agencies. It has definitely put an end to the criminal ring that used cryptocurrencies including Bitcoin.
Europol operation arrested 11 people from Spain, Finland, the USA. So, it is with reference to drug money laundered from Spain to Colombia using credit cards and several cryptocurrencies.
An excerpt from the statement revealed:
Once the criminals realised that cash withdrawals and bank operations were easy to track, they changed their laundering methods and turned to cryptocurrencies, mainly bitcoin.
A total of 137 individuals were arrested in this activity and 170 banks. Criminals then acquired credit cards linked to these bank accounts before travelling to Colombia.
Also, with deposits over €8 million in cash between them. It wasn’t long before the criminals turned to cryptocurrencies, according to the statement.
“With cryptocurrencies increasingly used to finance and carry out criminal activities. Europol will continue to coordinate across EU Member States and beyond Effectively respond to this rising threa.”
“ Europol has organised specialised training courses to assist law enforcement officers in identifying the use of cryptocurrencies by organised crime networks.”
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