EUROPOL Action Against European Money Laundering Operations – 2024

EUROPOL Action Against European Money Laundering Operations

Law Enforcement Actions Against Organized Crime in Europe

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• EUROPOL

About This Article

Judicial and law enforcement authorities from Italy, Latvia, and Lithuania have collaborated to dismantle a large-scale money laundering operation, orchestrated through a Lithuanian financial institution, with over EUR 2 billion laundered since 2017.

The operation involved two main suspects who offered money laundering services online to criminals worldwide, resulting in their detention along with 16 others. Facilitated by Eurojust and Europol, the operation saw the freezing of over EUR 11.5 million in assets and bank accounts.

The institution facilitated fictitious transactions for various criminal activities, including tax evasion and organized crime, while one suspect defrauded Italian authorities of EUR 15 million.

SCARS Editorial Team2024-02-28T16:33:42-05:00February 28th, 2024|Categories: • CRIMINAL JUSTICE, 2024, EUROPOL, NEWS, SCARS Editorial Team|Tags: EUROPOL, Money Laundering, Organized Crime|

Transnational Organized Crime Using Luxury Goods For Money Laundering – 2024

Transnational Organized Crime Using Luxury Goods For Money Laundering

Understanding the Money Flows with Transnational Organized Crime

An Overview of Transnational Organized Crime Money Laundering

Author:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.

About This Article

Transnational organized crime (TOC) is increasingly turning to luxury goods like watches and handbags for money laundering. These items’ high value, portability, and established resale channels make them attractive for criminals to hide and convert illicit gains.

TOC methods involve bulk purchases, smuggling, fake documentation, and online marketplaces. The consequences impact businesses through reputational damage and market distortion, governments battling financing of illegal activities, and consumers facing trust issues about product authenticity.

SCARS Editorial Team2024-02-13T05:55:42-05:00February 13th, 2024|Categories: • CRIMES & CRIMINALS, 2024, ARTICLE, SCARS Editorial Team|Tags: Luxury Goods, Money Laundering, Transnational Organized Crime|

UNODC Report on Casinos and Cryptocurrency Scams and Money Laundering 2024

UNODC Reports on Casinos and Cryptocurrency Scams and Money Laundering

Understanding Organized Crime

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• UNODC – United Nations Office of Drugs and Crime

Article Abstract

A newly released United Nations UNODC report highlights the significant role played by casinos, junkets, and cryptocurrencies in facilitating underground banking, money laundering, and transnational organized crime in East and Southeast Asia.

SCARS Editorial Team2024-01-16T20:15:20-05:00January 16th, 2024|Categories: • CRIMES & CRIMINALS, 2024, DOCUMENT / PDF, SCARS Editorial Team, SOUTHEAST ASIA, United Nations|Tags: Casinos, Cryptocurrency Scams, Money Laundering, Southeast Asia, U.N. Report, UNODC|

EUROPOL Money Mule Action 2023 – Over 10,000 Identified

Authors:
• SCARS Editorial Team – Society of Citizens Against Relationship Scams Inc.
• Portions EUROPOL

For Money Mules, Their Paper Trail Ends In Jail Time For 1,013 Money Mules As A Result Of The 2023 Europol Actions Against Money Mules

2,822 banks and financial institutions join forces with law enforcement agencies against Money Mules in a global effort against money laundering!

Law enforcement agencies from 26 countries, in collaboration with Europol, Eurojust, INTERPOL, and several private industry partners, have once again joined forces to combat a key facilitator of money laundering: money mules and their recruiters. In June, October, and November 2023, several operational phases identified 10,759 money mules and 474 recruiters, leading to the arrest of 1,013 individuals worldwide.

SCARS Editorial Team2023-12-09T07:35:37-05:00December 4th, 2023|Categories: • CRIMINAL JUSTICE, 2023, EUROPE, EUROPOL, NEWS, SCARS Editorial Team|Tags: EUROPOL, Money Laundering, Money Mules|