Europol, the European Union (EU) law enforcement agency, has carried out an interstate raid and uncovered 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 such as drug trafficking and arms smuggling.
The main aim of the operation was to stop the hidden financial services that supported criminal groups across Europe and beyond. Nine suspects were arrested in this operation. The suspects were experts in banking services.
Europol’s joint operation covered six countries. The operation required teamwork between organized crime and financial investigation experts. In total, the authorities confiscated cryptocurrencies worth 25 million euros. In addition, 35,000 euros in cash and other valuable assets such as gold and luxury goods were found. The
