A Finnish crypto exchange was allegedly used to launder more than €8 million and this led to the shut down of a drug trafficking ring that used cryptocurrencies and credit cards to commit the offense. Europol acted by arresting 11 individuals for laundering funds from Spain to Colombia via an unnamed cryptocurrency and credit cards.
Europol investigated more than 137 individuals, where it was found that the suspects used 174 bank accounts to launder the money. According to a statement, the drug traffickers contacted the criminals who are based in Spain to launder the money that was acquired through illicit activities. These proceeds were picked, split into smaller quantities and deposited into hundreds of third-party bank accounts.
Keep Reading:
https://www.tokens24.com/news/europol-arrest-11-in-crypto-money-laundering-case