Coordinated European law enforcement efforts have dismantled an international money laundering network capable of processing a million euros per day. Five Chinese nationals were arrested, including the network’s leader.
On July 2 and 3, Spanish authorities conducted a dozen searches in Madrid, Valencia, Alicante, and Barcelona. These searches targeted various locations such as homes, company headquarters, commercial warehouses, and restaurants, the European Union police agency Europol said in a statement on July 5.
Approximately 100 Spanish police officers participated in the operations, with support from French Judicial Customs investigators and Europol experts, Europol said.
Authorities arrested the leader of the network and seized nearly 160,000 euro ($173,319) in cash during the searches, according to the statement.
The investigation, led by France’s anti-fraud unit, the French National Anti-Fraud Office, and Spanish police, with Europol’s assistance, commenced in February 2021 after French customs officers discovered more than 500,000 euro concealed in a car in southern France, Europol said.
Investigators uncovered a “criminal scheme for laundering large quantities of cash across Europe,” which had been in operation since at least 2019, according to the statement.
The funds are suspected to have stemmed from a variety of illegal activities, such as trafficking counterfeit goods, committing tax and customs fraud, and engaging in prostitution. The network utilized a sophisticated logistics system to facilitate the movement of cash across Europe.
Recently, Europol has been instrumental in dismantling several criminal organizations involving Chinese nationals in the EU.
On May 24, Europol announced its support for the Spanish National Police in breaking up two criminal organizations that smuggled more than 1,000 Chinese nationals using various fraudulent methods.
Most of the victims were later sexually exploited, and these gangs are believed to have generated 5 million euro ($5.42 million) through those illicit activities, police said.
Following a two-phase investigation, Spanish law enforcement made 69 arrests, seized seven luxury vehicles, confiscated 80,000 euro ($86,660) in cash, and collected electronic devices and documentation.
The case is linked to two major investigations. One involves Europe’s largest Chinese prostitution ring, leading to 28 arrests in Belgium and Spain. The other targets a criminal organization trafficking individuals for sexual and labor exploitation in Mallorca, Spain, which resulted in 17 arrests in March.
