In a prime example of the interconnection between criminal networks, Europol supported the takedown of a criminal parallel banking organisation with multiple branches spread out across Europe.
The operation, which was conducted on 14 January 2025 across Austria, Belgium, and Spain, constitutes a direct follow-up to two successful operations against migrant smugglers (as reported on 4 July 2023 and 13 August 2023).
Seventeen individuals were arrested (15 in Spain, one in Austria, one in Belgium). A large amount of criminal assets worth over €4.5 million, four shotguns and several electronic devices were seized.
The 17 individuals arrested are mostly of Chinese and Syrian nationality and are suspected of providing primarily money laundering services to criminals. This encompasses parallel banking services, illegal hawala banking, cash collection, cash courier services and the exchange of cryptocurrencies for cash.
The money launderers were operational in at least two branches: one that catered largely to the Arabic-speaking criminal world and the other to criminal networks originating from China.
Investigators consider the dismantled criminal network one of the most significant in this crime area. It provided money laundering and related services to other criminal networks engaged in migrant smuggling and drug trafficking.
It is believed that over €21 million was moved by the criminal network. Advertising on social media, they reached a varied and international clientele. Apart from arresting 17 individuals, law enforcement seized criminal assets worth over €4.5 million.
The seizures include €206,000 in cash; €421,000 in 77 bank accounts; €183,000 in cryptocurrency; 10 real estate items worth over €2.5 million; 18 vehicles worth over €207,000; four shotguns and ammunition; phones and other devices; and luxury consumables, watches, accessories, and jewellery.
Following up on the successes in taking down the migrant smugglers who relied on this criminal network’s illicit banking services, national investigators and Europol’s experts in financial crime jointly picked up a new trail.
Examining the migrant smugglers’ phones led to the criminal network laundering illicit proceeds, which was found, thus kicking off this new investigation.
Europol financed three Spanish investigators to travel to Belgium and Austria. Additionally, two Europol experts travelled to Austria and Belgium to provide support on the ground, while two more Europol experts were deployed to Spain.
