Europol uncovered a scheme of drug trafficking, in which to launder more than 8 million euros through the Finnish stock exchange was used cryptocurrency and credit cards.
According to the report, published on Monday, representatives of Europol arrested 11 people for money laundering, from Spain to Colombia with an unnamed cryptocurrency and credit cards. Law enforcement authorities in Spain, Finland and the US have jointly implemented the arrest of suspects.
According to the statement, was investigated the activity of 137 people, and the suspects used a total of 174 Bank account.
«The criminals who were in Spain, were contacted by drug traffickers to launder money from their illegal activities. They divided the cash into small amounts and deposited them into hundreds of Bank accounts.»
The defendants first used the credit card to withdraw money in Colombia, but, fearing capture, they began to transfer funds into bitcoin and then into Colombian pesos through the Finnish cryptocurrency exchange. In a statement, Europol notes that the unnamed exchange collaborated with the Finnish authorities and revealing information about the suspects.
Law enforcement officials, the EU has stated that they intend to intensify their efforts to prosecute criminal activity involving cryptocurrency.
«Europol will continue to coordinate work between member States of the EU and beyond, to respond effectively to this growing threat,» the statement said.
In addition, representatives of Europol added that have already implemented the «specialized training courses to assist law enforcement in identifying the use of cryptocurrency in the criminal communities.»
Europol has previously reported about the illegal use of cryptocurrencies. In late February, the Agency warned that criminals move on to Monero, zcash for and Dash.