Friday September 29, 2023
The Japanese parliament has decided to roll out tougher AML procedures in line with the “travel rule.”
Lawmakers in Japan have decided to enforce stricter Anti-Money Laundering (AML) measures to trace cryptocurrency transactions from June 1.
On May 23, the Japanese parliament made the decision to roll out tougher AML procedures from next month, according to a report the same day from local media outlet Kyodo News.
The move aims to bring Japan’s legal framework in line with global crypto regulations.
Lawmakers revised the AML legislation in December after it was deemed insufficient by the international financial watchdog, the Financial Action Task Force (FATF).
According to reports, a vital feature of the new measures is the enforcement of the “Travel Rule” to keep a more accurate track of criminal proceeds.
The travel rule requires any financial institution processing a crypto transfer greater than $3,000 to pass on customer information to the recipient exchange or institution. The data should include the name and address of the sender and recipient and account information.
The Travel Rule was discussed by global leaders in mid-May at the G7 meeting held in Japan, with the G7 Committee clear in its support of the Travel Rule for crypto transactions.
It supported FATF initiatives on accelerating global standards for crypto “including the ‘travel rule’, and its work on emerging risks, including from DeFi arrangements and peer-to-peer transactions.”
Japan was one of the early adopters of crypto, legalizing it as property. Crypto regulations in Japan are some of the most stringent globally.
Japan’s financial regulator, the Financial Services Agency, tightened rules on crypto exchanges following the major hacks of the exchanges Mt.Gox and Coincheck.
The FSA has several rules for exchanges to protect customers including separate holdings of customer and company assets, with holdings verified in annual audits.
Investors cannot borrow more than twice their investments for leveraged trades on exchanges. Licensed crypto exchanges are also required to hold at least 95% of customer funds in cold wallets.
In April, the Web3 project team of Japan’s ruling Liberal Democratic Party released a white paper proposing ways to expand the country’s crypto industry.
23 -25 May 2023
The MENAFATF 36th Plenary concluded on Thursday May 25th 2023, which was held over three days in Manama, Kingdom of Bahrain. The Plenary was headed by Mr. Mohamed-Lemine DHEHBY, MENAFATF President, Governor of the Mauritanian Central Bank, Chairman of the Mauritanian FIU, and attended by heads of delegations and AML\CFT experts of member countries and observer countries and organizations concerned authorities in AML\CFT \CPF matters, as the FATF, UN, IMF, World Bank, and Egmont Group.
The Plenary discussed and adopted MERs for the People's Democratic Republic of Algeria, the Republic of Lebanon and the State of Qatar, and the 3RD EFUR for the United Arab Emirates, ongoing projects such as the regional risks assessment on ML/TF, typologies report on ML\TF through legal persons and legal arrangements in the MENA region. The Plenary also adopted the Annual Report for 2022, the 5th Typologies Report 2022, and commended the outputs of the Typologies and Capacity Building Workshop, which was held in March 2023, in Abu Dhabi, United Arab Emirates.
It is worth noting that the Plenary was preceded working groups meetings during the period of 20 to 22 May 2023, which discussed the following topics:
Mutual Evaluation Working Group:
Discussion of MERs for the People's Democratic Republic of Algeria, the Republic of Lebanon and the State of Qatar, and the 3RD EFUR for the United Arab Emirates, and other items such as the provision and qualification of experts for the second round of the MERs, the statistics paper on the provision of experts for mutual evaluation and follow-up process, as well as the timetables for the mutual evaluation and follow-up process.
Technical Assistance and Typologies Working Group:
Discussion of training programs for 2023, priority matrix for training and technical assistance, updates on ongoing projects such as typologies project on "Money Laundering and Terrorist Financing through Legal Persons and Legal Arrangements", Regional Risk Assessment of Money Laundering and Terrorist Financing", and updating the "Waqf and Recommendation 25" study, and establishing an e-learning platform.
Financial Information Units Forum:
An exceptional forum was held with the presence of the Executive Secretary of the Egmont Group to understand challenges and obstacles faced by FIUs in the region to gain an Egmont Group membership. Bilateral meetings were also held between the FIUs nominated to join the Egmont Group, their sponsors, and the Executive Secretary of the Egmont Group in the context of facilitating membership.
Risk Committee:
The committee discussed the results of a questionnaire on challenges faced by member countries in the field of risks, technical assistance programs and training in this regards, and the Regional Risk Assessment. A panel discussion was also held on “Transparency of Beneficial Ownership - Between International Standards and Most Prominent Regional Practices”.
Operational Experts Forum on Terrorist Financing (OFTF)
A number of presentations were given for the purpose of exchanging expertise and experiences regarding disrupting terrorist financing by FATF, the Monitoring Team 1267 affiliated The United Nations, Secretariat of the Eurasian Group (EAG), the Republic of Iraq, and the Kingdom of Saudi Arabia. Joint projects with other working groups, committees, and forums was also discussed
Financial penalties handed to criminals financing terrorism
UAE authorities have extradited 899 criminals since 2020, of which 43 were involved in money-laundering crimes. Ten of those were terrorists or were financing terrorist activities.
The UAE has issued fines of more than Dh115 million ($31.3 million) in the first quarter of the year in its fight against money laundering and the financing of terrorism.
“The Ministry of Justice puts the issue of strengthening international co-operation in the field of combating financial crime and organised crime at the forefront of its priorities,” Judge Abdul Rahman Al Blooshi said in a press release last week.
Mr Al Blooshi said the ministry had been working with partners in the country, including the Ministry of Foreign Affairs, the Ministry of Interior and federal and local prosecutors to forge international agreements with countries around the world to tackle money laundering, terrorist financing, human trafficking, drug trafficking and organised crime.
These included 37 signed international agreements on Mutual Legal Assistance, 15 collective agreements and 10 regional agreements to combat money laundering and terrorist financing that have “resulted in making the UAE a successful model and a guarantor of the compliance of companies in various sectors” to combat money laundering and terrorist financing, he said.
Last Tuesday, the Ministry of Justice held its first conference on the role of Central Authorities in combating money laundering and terrorism financing, as well as the obstacles that may hinder legal and judicial co-operation.
Speaking to The National, Mr Al Blooshi said the UAE had a long-standing relationship with the international community to address such crimes.
“For us to have 32 countries present at this conference is a testament and a reaffirmation of our commitment to put a stop to money laundering,” he said.
“The UAE is regularly coming up with policies and strategies to detect these crimes and to prevent the transfer of funds that result in or finance criminal activities.
“These are serious crimes that the UAE has been committed to fighting from the onset.”
Since 2020, the UAE has been asked 3,061 times to help in either the extradition of criminals or for its assistance in thwarting criminal activities such as money laundering and terrorism financing.
In the first quarter of this year alone, the UAE issued fines of more than Dh115 million, a sharp increase from last year's Dh76 million.
During the three-day conference, recommendations were made to ensure these activities remained under control.
These included the importance of establishing direct communication channels between central authorities to enable the execution of legal and judicial requests.
The conference also highlighted the importance of bilateral treaties between countries and exchanging experiences among relevant stakeholders in the field of combating money laundering and terrorism financing.
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC) Mr. Abdulrasheed Bawa today in Riyadh, Saudi Arabia called for enhanced international collaboration in asset recovery efforts.
He made the plea while signing a memorandum of understanding, MoU with the Oversight and Anti-Corruption Authority (NAZAHA) of Saudi Arabia, a development which marked a significant milestone in strengthening international partnerships to address the complex challenges posed by corruption.
The event was a follow up to the EFCC Chairman’s participation in the Ministerial Meeting of Anti-Corruption Law Enforcement Authorities in the Organization of Islamic Countries (OIC) Member States in December, 2022 to adopt the Makkah Al-Mukarramah Convention, where the two agencies had resolved to reinforce their commitment to combat corruption with an MoU.
The NAZAHA is the lead anti-corruption agency in Saudi Arabia and shoulders the responsibility of safeguarding integrity in both public and private sectors. The agency plays a crucial role in combating corruption, gathering data, and compiling statistics on agencies falling under its purview, while also coordinating anti-corruption efforts across the public and private sectors.
A significant component of the visit was the sharing of experiences and insights on asset recovery. The EFCC, recognized as a global leader in this domain, delivered a special presentation on its extensive expertise in asset recovery.
During a presentation, the EFCC boss underscored the factors that contribute to a successful asset recovery regime, emphasizing the criticality of access to relevant information through intelligence-gathering and seamless information exchange with partner law enforcement agencies, as well as regional and international networks.
Significantly, Bawa highlighted the instrumental role of West Africa's Network of National Anti-Corruption Agencies (NACIWA), an esteemed network which he currently leads, in facilitating regular law enforcement cooperation, joint investigations, and coordinated efforts in asset recovery and extradition.
Emphasizing the need for a robust legal framework, Bawa further identified the critical role of comprehensive laws for prosecuting both conviction and non-conviction-based asset forfeiture, adding that such legal measures would serve as a deterrent and enable the recovery of stolen assets for public good.
He further reiterated the significance of trust-building among law enforcement agencies and stressed the importance of global heads of law enforcement agencies establishing strong relationships amongst themselves, based on trust and shared goals in combating corruption. The EFCC Chair warned Nigerians laundering money in Saudi Arabia should have a rethink.
In his closing statement, Mr. Mazen bin Ibrahim bin Mohammed Al-Kahmous, the President of NAZAHA, expressed gratitude to the EFCC Chairman for the extensive and insightful presentation, which shed light on the EFCC's invaluable experiences in the field of asset recovery. He extended a request for an expanded experience-sharing visit by the EFCC's asset recovery experts to the Saudi Anti-Corruption agency which will provide an opportunity for both agencies to delve further into the intricate workings of the international asset recovery legal framework, allowing for more in-depth discussions and collaboration.
Before returning to Nigeria, Bawa will also have the privilege of visiting the Saudi Ministry of Finance for a presentation on the renowned E-Procurement Platform, Etimad. This interactive session will serve as an opportunity to exchange experiences and discuss effective strategies to combat corruption in public procurement.
The Saudi Government has successfully implemented Etimad, as a way of mitigating the risk of corruption in procurement-related matters.
This visit of the Executive Chairman to Saudi Arabia reflects the EFCC's unwavering commitment to combating corruption and strengthening international partnerships. By sharing best practices, exchanging knowledge, and fostering trust, the EFCC and NAZAHA have paved the way for enhanced cooperation, ensuring the recovery of stolen assets and holding criminals accountable.
The North African country was removed from the list of high-risk countries for money laundering and terrorism financing in a decision announced by the European Commission on Wednesday.
Morocco’s removal from the European Union’s watchlist of countries under surveillance for money laundering and terrorist financing will benefit the country’s economy and facilitate capital flows in and out of the country, a global anti-money laundering expert has said.
The North African country was removed from the list of high-risk countries for money laundering and terrorism financing in a decision announced by the European Commission on Wednesday.
Morocco had been removed from the Financial Action Task Force (FATF) gray list in February after the kingdom implemented an action plan agreed upon by the group. Morocco was originally added to the gray list in February 2021.
The Commission said Wednesday that by implementing the FATF’s plan, Morocco has fixed problems with its Anti-Money Laundering/Combating the Financing of Terrorism (AML/CFT) system and no longer poses a money laundering and terrorism financing threat to the international financial system.
The bloc's watchlist features a closely monitored set of countries due to their deficiencies in combating money laundering and terrorist financing.
Rick McDonell, executive director of The Association of Certified Anti-Money Laundering Specialists (ACAMS) and former FATF executive secretary, told Al-Monitor that Morocco was removed from the FATF list for making “significant improvements” to its AML/CFT system.
“This will have included progress in improving its international cooperation mechanisms, strengthening AML/CFT supervision, increasing transparency of legal persons, strengthening the capacities of its financial intelligence unit and enhancing its ability to conduct money laundering investigations,” he said.
McDonell said the European Commission would have taken into account this removal and Morocco having sufficiently implemented any other requirements that the EU may have stipulated at the time of its listing.
Asked how the removals will impact Morocco economically, he said that countries on the gray list are not subject to countermeasures or enhanced due diligence. He stressed that it was a tool to help other countries consider the information included as part of their risk assessments of the countries listed.
“That said, there is research to suggest that there are negative economic impacts on countries placed on the gray list, including disruptions to capital flows, which should ease following de-listing,” McDonell added.
“Having been removed from the gray list will therefore benefit the country economically as there will be no potential sanctions hanging over it, and it will be seen politically as a reliable country in improving its anti-money laundering system.”
Other countries on the list in the region include Jordan, South Sudan, the United Arab Emirates and Yemen.
Abu Dhabi - May 16, 2023
Ministry of Justice highlights country’s efforts at three-day conference of 31 nations
Abu Dhabi: The Ministry of Justice has organised its first conference on the role of central authorities in combating money laundering and terrorism financing. Held at the Ministry of Justice in Abu Dhabi over a period of three days, the Ministry invited representatives of central authorities from 31 countries specialised in combating money laundering and terrorist financing.
To further promote this effort, the Ministry has also called upon other authorities in the UAE, including federal and local government entities in Abu Dhabi, Dubai and Ras Al Khaimah; the Ministry of Interior, Ministry of Foreign Affairs and International Cooperation, Abu Dhabi Executive Office, the military judiciary and members of the judiciary in the Ministry.
Abdullah Sultan Al Nuaimi, Minister of Justice, said in a speech, delivered on his behalf by Eng. Abdul Rahman Muhammad Al Hammadi, Acting Undersecretary of the Ministry of Justice: “Today, money laundering and terrorist financing crimes are among the biggest challenges facing the international community, which is in need of the cooperation and solidarity of all countries of the world, without exception, to effectively address this serious crime, and to draw strategies and develop common policies and procedures necessary to combat it, both at the national and international levels.”
He emphasised that central authorities are at the forefront of these efforts by facilitating international cooperation, direct communication, exchange of information and expertise, and coordination in investigations and trials, while using latest technologies and applying best practices in legislation.
Al Nuaimi then highlighted the efforts of the UAE in the field of combating money laundering and terrorist financing crimes.
“The UAE is one of the pioneering countries in this field, and many strict legislations and laws have been issued in this context. In coordination with its partners from state institutions internally and externally, it took many necessary measures and coordinated its efforts in this context with all relevant authorities in the country, whether through the Department of International Cooperation, or the Anti-Money Laundering Department in the Ministry,” he said.
The EU is making it more difficult for criminals to circumvent anti-money laundering rules via crypto currencies. Today the Council adopted updated rules on information accompanying the transfers of funds by extending the scope of the rules to transfers of crypto assets. This ensures financial transparency on exchanges in crypto-assets and provides the EU with a solid framework that complies with the most demanding international standards on the exchange of crypto-assets, ensuring that these are not used for criminal purposes.
Today’s decision is bad news for those who have misused crypto-assets for their illegal activities, to circumvent EU sanctions or to finance terrorism and war. Doing so will no longer be possible in Europe without exposure – it is an important step forward in the fight against money laundering. Elisabeth Svantesson, Minister for Finance of Sweden
Under the new rules, crypto asset service providers are obliged to collect and make accessible certain information about the sender and beneficiary of the transfers of crypto assets they operate, regardless of the amount of crypto assets being transacted. This ensures the traceability of crypto-asset transfers in order to be able to better identify possible suspicious transactions and block them.
Background
This regulation is part of a package of legislative proposals to strengthen the EU's anti-money laundering and countering terrorism financing (AML/CFT) rules, presented by the Commission on 20 July 2021. The package also includes a proposal to create a new EU authority to fight money laundering.
The Council agreed its position on the transfer of funds proposal on 1 December 2021. Trilogue negotiations started on 28 April 2022 and ended in a provisional agreement on 29 June. Today’s formal adoption is the final step in the legislative process.
Owing to the fact that gaming businesses are prone to be used as avenues by criminals attempting to turn ill-gotten wealth to clean money, the Nigerian Financial Intelligence Unit recently held a mutual discussion with gaming operators to keep them abreast of the laws, writes Nseobong Okon-Ekong.
It was meant to be a warm handshake across the table between personnel from the Nigerian Financial Intelligence Unit (NFIU) and business owners in the gaming Eco-system, particularly drawn from members of the trade groups-Association of Nigeria Bookmakers (ANB), the umbrella body for Sports Betting companies, Nigeria Licensed Lottery Operators Forum, Casino and Gaming Machine Operators Association of Nigeria.
It was the second Training/Interactive Session on Anti-Money Laundering Compliance, having previously carried out a similar exercise conducted by the Special Control Unit Against Money Laundry (SCUML), an arm of the Economic and Financial Crimes Commission (EFCC). Therefore, the training last Wednesday at a hotel in the Ikeja Central Business District was a continuation of the effort to alert operators in the gaming Sector to protect themselves from being used for laundering money or terrorism financing.
Money laundering and terrorism financing are crimes of global dimension and concern. The crimes cut across borders and have no jurisdictional limitations. No country can single-handedly develop measures to tackle money laundering and terrorism financing effectively.
The Executive Secretary of the ANB, Bimpe Akingba, clearly expressed the objective of the training.
“We want government agencies to know that we have nothing to hide. We want to help our members stay compliant so that we can conduct our business free from encumbrances. We don’t want them to see us in a bad light, especially now that there is a lot of focus on this sector,” stated Akingba.
The NFIU personnel, which included Biola Shodeinde, Peace Onuka, Robert Bagobiri and Lai Adewole, made it a very participatory meeting, thereby getting the trainees to understand the difference between money laundering and terrorism financing. While money laundering describes an attempt to transform ill-gotten money into legitimate funds, terrorism financing can deploy clean and unclean funds. Money Laundering is the process by which criminals attempt to hide or disguise the origin and ownership of their ill-gotten wealth from: drugs trafficking, bribery, tax evasion, corruption, illegal oil bunkering and embezzlement. In effect, money laundering is about turning dirty money into clean money.
It was impressed on business owners in the gaming sector why they regularly need to file Suspicious Activity Report (SAR) and Suspicious Transaction Report (STR). The importance of filing an STR immediately was emphasised. The trainers re-echoed the preeminence of confidentiality guiding the working relationship between NFIU and the operators while stating the principle leading to the establishment of Government Office Anti-Money Laundering, popularly known as GoAML, which automatically includes Nigeria among a network of 157 countries that have come together to fight against money laundering and terrorism financing.
China Onwuka, president of the Nigeria Licensed Lottery Operators Forum, commended the NFIU, saying, “Your office has a great impact on how Nigeria is seen globally. Nigeria has not been removed from the list of countries susceptible to money laundering.”
The trainees also learnt why money laundering and terrorism financing is a second-degree offence, an intentional, premeditated crime, stressing that it is a global problem that adversely affects parts of the economy. At the end of the training, attendees understood how to identify the three major stages of money laundering and terrorist financing: placement, layering and integration.
In the placement stage, ill-gotten funds are brought into the gaming sector. Sometimes smaller deposits below threshold levels are made to evade reporting. It may also be in the form of buying casino chips, later cashing them in, and treating the proceeds as winning. Regarding layering, bets are placed using other individuals and businesses to transact on their behalf. At the stage of integration, winnings are cashed out as clean money. The rest of the funds are also cashed out as clean money.
Some of the indicators brought to light at the forum include but were not limited to fraud, particularly (Yahoo Yahoo) otherwise known as internet scam, participating in organised crime, kidnapping (offenders kidnap their friends and then ask the family to pay ransom into a betting wallet), corruption through the political elite, trafficking in stolen goods and sexual exploitation.
Having thoroughly discussed the issues, some of the actions that the NFIU recommended for implementation included; having an AML compliance officer in every operating business, incidentally when the section of the law that specifies punishment, including jail terms to defaulting companies/compliance officers, many at the training declined the responsibility, developing an AML policy programme, keeping records of transactions and insistence on betting by the rules. An important observation was made by the NFIU that there is an upsurge in betting activities each time there is a national election.
Carrying out such training as the NFIU had with operators in the gaming industry, designated as non-financial businesses and professions, helps them understand why it is necessary to file regular reports.
The relevant sections of the Money Laundering Prevention and Prohibition Act 2022 (MLPPA) were explained to participants, particularly Sections 7, 11, 18, 19 and 84. For instance, the operators were alarmed to learn that section 7 stipulates that they must pay N1 million every day a breach of that particular law section is committed. Yomi Oketope, the president of the Casino and Gaming Operators Association of Nigeria, said after the training, he doubted the possibility of any of his members defaulting against the laws.
Owing to the fact that gaming businesses are prone to be used as avenues by criminals attempting to turn ill-gotten wealth to clean money, the Nigerian Financial Intelligence Unit recently held a mutual discussion with gaming operators to keep them abreast of the laws, writes Nseobong Okon-Ekong.
It was meant to be a warm handshake across the table between personnel from the Nigerian Financial Intelligence Unit (NFIU) and business owners in the gaming Eco-system, particularly drawn from members of the trade groups-Association of Nigeria Bookmakers (ANB), the umbrella body for Sports Betting companies, Nigeria Licensed Lottery Operators Forum, Casino and Gaming Machine Operators Association of Nigeria.
It was the second Training/Interactive Session on Anti-Money Laundering Compliance, having previously carried out a similar exercise conducted by the Special Control Unit Against Money Laundry (SCUML), an arm of the Economic and Financial Crimes Commission (EFCC). Therefore, the training last Wednesday at a hotel in the Ikeja Central Business District was a continuation of the effort to alert operators in the gaming Sector to protect themselves from being used for laundering money or terrorism financing.
Money laundering and terrorism financing are crimes of global dimension and concern. The crimes cut across borders and have no jurisdictional limitations. No country can single-handedly develop measures to tackle money laundering and terrorism financing effectively.
The Executive Secretary of the ANB, Bimpe Akingba, clearly expressed the objective of the training.
“We want government agencies to know that we have nothing to hide. We want to help our members stay compliant so that we can conduct our business free from encumbrances. We don’t want them to see us in a bad light, especially now that there is a lot of focus on this sector,” stated Akingba.
The NFIU personnel, which included Biola Shodeinde, Peace Onuka, Robert Bagobiri and Lai Adewole, made it a very participatory meeting, thereby getting the trainees to understand the difference between money laundering and terrorism financing. While money laundering describes an attempt to transform ill-gotten money into legitimate funds, terrorism financing can deploy clean and unclean funds. Money Laundering is the process by which criminals attempt to hide or disguise the origin and ownership of their ill-gotten wealth from: drugs trafficking, bribery, tax evasion, corruption, illegal oil bunkering and embezzlement. In effect, money laundering is about turning dirty money into clean money.
It was impressed on business owners in the gaming sector why they regularly need to file Suspicious Activity Report (SAR) and Suspicious Transaction Report (STR). The importance of filing an STR immediately was emphasised. The trainers re-echoed the preeminence of confidentiality guiding the working relationship between NFIU and the operators while stating the principle leading to the establishment of Government Office Anti-Money Laundering, popularly known as GoAML, which automatically includes Nigeria among a network of 157 countries that have come together to fight against money laundering and terrorism financing.
China Onwuka, president of the Nigeria Licensed Lottery Operators Forum, commended the NFIU, saying, “Your office has a great impact on how Nigeria is seen globally. Nigeria has not been removed from the list of countries susceptible to money laundering.”
The trainees also learnt why money laundering and terrorism financing is a second-degree offence, an intentional, premeditated crime, stressing that it is a global problem that adversely affects parts of the economy. At the end of the training, attendees understood how to identify the three major stages of money laundering and terrorist financing: placement, layering and integration.
In the placement stage, ill-gotten funds are brought into the gaming sector. Sometimes smaller deposits below threshold levels are made to evade reporting. It may also be in the form of buying casino chips, later cashing them in, and treating the proceeds as winning. Regarding layering, bets are placed using other individuals and businesses to transact on their behalf. At the stage of integration, winnings are cashed out as clean money. The rest of the funds are also cashed out as clean money.
Some of the indicators brought to light at the forum include but were not limited to fraud, particularly (Yahoo Yahoo) otherwise known as internet scam, participating in organised crime, kidnapping (offenders kidnap their friends and then ask the family to pay ransom into a betting wallet), corruption through the political elite, trafficking in stolen goods and sexual exploitation.
Having thoroughly discussed the issues, some of the actions that the NFIU recommended for implementation included; having an AML compliance officer in every operating business, incidentally when the section of the law that specifies punishment, including jail terms to defaulting companies/compliance officers, many at the training declined the responsibility, developing an AML policy programme, keeping records of transactions and insistence on betting by the rules. An important observation was made by the NFIU that there is an upsurge in betting activities each time there is a national election.
Carrying out such training as the NFIU had with operators in the gaming industry, designated as non-financial businesses and professions, helps them understand why it is necessary to file regular reports.
The relevant sections of the Money Laundering Prevention and Prohibition Act 2022 (MLPPA) were explained to participants, particularly Sections 7, 11, 18, 19 and 84. For instance, the operators were alarmed to learn that section 7 stipulates that they must pay N1 million every day a breach of that particular law section is committed. Yomi Oketope, the president of the Casino and Gaming Operators Association of Nigeria, said after the training, he doubted the possibility of any of his members defaulting against the laws.
London [UK], May 11 (ANI): United Kingdoms' National Crime Agency has convicted sixteen people following a major investigation into an organised crime group (OCG) involved in international money laundering and human trafficking based in West London, National Crime Agency (NCA) of UK statement read.
Members of the network smuggled more than EUR 42 million in cash out of the UK in hundreds of trips to Dubai, UAE, between 2017 and 2019, NCA wrote.
NCA investigators believe the money was the profit from the sale of class-A drugs and organised immigration crime.
Around EUR 1.5 million was seized from couriers leaving the UK but flight analysis, evidence from cash declarations in Dubai, and other material seized by the NCA showed the group had succeeded in transporting far more, NCA reported on their official government website.
As part of the investigation, NCA officers also uncovered a plot involving members of the OCG to send 17 migrants, including five children and a pregnant woman, into the UK in the back of a van carrying tyres in 2019.
The van was intercepted by Dutch police and the NCA before it could reach a ferry at the Hook of Holland.
In November 2019, following weeks of surveillance, communications and flight data analysis, the police made several arrests. Gang ringleader Charan Singh, 44, from Hounslow, was among those detained in a series of early morning raids across west London.
Investigators were able to prove that Singh, who was formerly resident in the UAE, paid for flights to Dubai for other members of the network so they could carry cash.
He also kept a ledger showing how much had been transported and when. It showed that at least 58 trips to Dubai were made by Singh and his couriers in 2017.
Further arrests followed and those charged were prosecuted in two trials at Croydon Crown Court, starting in January 2023.
The first trial saw six people, including Singh, found guilty of money laundering offences. Two defendants were additionally convicted for facilitating illegal immigration along with a third individual.
Midway through the second trial, six defendants changed their plea to guilty in relation to money laundering offences.
As a result, reporting restrictions on the case was lifted on Friday 5 May.
All 16 convicted are due to be sentenced in a hearing starting 11 September 2023, including two individuals who entered guilty pleas for money laundering offences prior to the two trials. (ANI).
Doha - (MENAFN- Gulf Times) The activities of a workshop on terrorist financing crimes trials kicked off yesterday in Doha.
The two-day workshop is organised by the Ministry of Interior's (MOI) National Counter-Terrorism Committee in co-ordination with the Terrorist Financing Targeting Center (TFTC).
Bringing together experts and specialists from judicial authorities and relevant national agencies from the GCC countries and the US, the event deals with financial investigations and evidence in legal procedures. It also reviews realistic case studies on terrorist financing investigations that has led to prosecutions, in addition to enhancing co-operation among agencies, investigators and the public prosecution in the TFTC member states.
National Counter-Terrorism Committee Vice-Chairman Major Gen. Nasser Saeed al-Hajiri stressed in his speech the importance of the workshop that brings together several experts and representatives of law enforcement agencies, oversight agencies and other competent authorities.
Al-Hajiri voiced hopes the workshop would achieve the common goals aimed at eliminating terrorist financing crimes, working to enhance the technical expertise of the participating countries and reviewing the best practices of investigations and trials by law enforcement agencies, in addition to reviewing practical case studies on terrorist financing investigations that lead to prosecution.
The US Ambassador to Qatar Timmy Davis stressed that the workshop and its outputs would contribute effectively to enhancing constructive co-operation between the participating countries, and reflect the volume of efforts made to achieve security and safety. He thanked Qatar represented by the National Counter-Terrorism Committee for hosting the workshop.
Head of the delegation of Saudi Arabia, Colonel Mohamed al-Qaisi thanked Qatar for the good organisation, hailing its efforts and constant endeavour to co-operate and contribute to the establishment of the TFTC and its keenness to devote its goals through participation in meetings, workshops and joint co-ordination.
Secretary of the National Counter-Terrorism Committee Colonel Khalid Ali al-Kaabi thanked all participating countries under the umbrella of the TFTC, stressing that the workshop will advance the efforts made and will certainly contribute to enhancing joint security co-operation through presentations reviewed by the delegations of Qatar, Saudi Arabia, and the US.
The first day witnessed a discussion on the policy context and framework, the challenges and opportunities it includes in the field of combating the financing of terrorism, and how to enhance co-operation among the concerned agencies. The second day includes a practical application of learned lessons.
At INTERPOL’s 50th European Regional Conference, delegates have gathered to discuss common crime threats from drug trafficking to cybercrime.
OHRID, North Macedonia - Strengthening international police cooperation to counter the rapidly escalating threat posed by organized crime networks was the key focus of INTERPOL’s 50th European Regional Conference.
The three-day (8-10 May) conference brings together more than 140 participants from 53 countries in Europe and beyond to discuss the most pressing crime issues facing the region.
The conference takes place in Ohrid, North Macedonia, which itself marks 30 years as an INTERPOL member country this year.
“These past 30 years, through our membership in the world's largest police organization, have witnessed our commitment and willingness to be engaged in global police cooperation,” said Oliver Spasovski, Minister of Interior of the Republic of North Macedonia, in remarks during the conference’s opening ceremony.
“With the establishment of the global INTERPOL I-24/7 communication system, our country was among the first to connect with this global police family, to exchange information between members and the General Secretariat, as well as directly access global criminal databases,” the Minister added.
Unprecedented scale
Fueled by historic levels of drug trafficking, organized crime groups are increasingly posing a direct threat to state authority in many countries, and there is evidence that levels of violence related to these criminal networks is also increasing.
“Organized crime is a top concern,” said INTERPOL President Ahmed Naser al-Raisi in the conference’s opening ceremony. “These transnational crimes not only threaten the safety and security of the region, but also have a spillover effect on the rest of the world.”
Last month, INTERPOL announced its largest ever firearms trafficking operations, which saw more than 14,000 suspects arrested across Central and South America, and an unprecedented USD 5.7 billion in illegal narcotics seized.
“Over the last five years, [drug] trafficking and consumption have increased by an order of magnitude, with Europe one of the main transit and destination markets,” said INTERPOL Secretary General Jürgen Stock.
“We continue to see record seizures at European borders and ports, and a corresponding rise in violent crime, corruption and money laundering of unprecedented scale,” added Secretary General Stock.
The global scale of many organized crime networks, often spanning multiple continents, has underlined that international cooperation through INTERPOL is often the only means for police in Europe and other regions to bring fugitives to justice or gather crucial intelligence.
European crime landscape
Beyond drug trafficking, the results of INTERPOL’s 2022 Global Crime Trend report, which surveyed police across the Organization’s 195-country membership, show that money laundering and cyber or cyber-enabled crimes also top European law enforcement’s list of concerns.
Money laundering ranked second among the crime trends most frequently indicated by member countries in the region as posing a ‘high’ or ‘very high’ threat, with financial fraud also ranking very high.
The report notes that the use of online tools by criminals to perpetrate financial fraud schemes has also rapidly expanded in recent years, particularly since the COVID-19 pandemic.
Especially concerning, 76 per cent of police respondents from Europe expect online child sexual exploitation and abuse to increase or increase significantly in the next three to five years.
The report notes that the demand for livestreaming abuse has steadily increased in recent years, likely intensifying during the pandemic. While live distance child abuse most often take place in Southeast Asia, cases in the European Union have also recently been detected.
Keeping Europe safe
Founded in the heart of Europe – in Vienna – during the region’s interwar period 100 years ago, INTERPOL’s history is closely intertwined with that of Europe.
Established in a 1920s context of geopolitical upheaval and concerns of rising international crime, the Organization’s founding representatives agreed that only through collaboration could police combat transnational crime threats – a common goal shared throughout periods of political or economic tension.
Later, in one of the Organization’s darkest chapters, the Nazis assumed control of the International Criminal Police Commission – as INTERPOL was then called – after deposing its President. In 1946, Belgium spearheaded INTERPOL’s rebuilding in the new postwar era.
Today, European member countries remain global leaders in their use of and contribution to INTERPOL capabilities – and this activity is quickly growing. With regards to INTERPOL databases, European member countries contribute more records, undertake more searches and – crucially – receive more hits than any other region.
New historical peaks for records, searches and hits in INTERPOL databases from European member countries were reached in 2022. In the past year alone, searches of INTERPOL databases by European law enforcement have risen by nearly a third.
The figures underscore the fundamental place INTERPOL capabilities occupy in European countries’ approaches to keeping their communities safe.
Vienna, 9 May 2023 - The Financial Action Task Force (FATF) held its annual Private Sector Consultative Forum (PSCF) on 8th and 9th May 2023 in Vienna, Austria, hosted by the United Nations Office on Drugs and Crime (UNODC). This was the first PSCF since 2019 due to the COVID-19 pandemic.
The PSCF is a unique platform for the FATF and its members to engage directly with the private sector and civil society, and deepen partnerships in the fight against money laundering and terrorist financing. FATF President T. Raja Kumar oversaw the two-day event, which brought together over 250 representatives from the financial sector, non-financial businesses and professions, civil society, academia, FATF members and other stakeholders.
In his opening remarks, FATF President T. Raja Kumar reiterated the importance of the private sector’s participation in FATF’s work, given the need to adopt a “Whole-of-Society” approach in fighting financial crime. His remarks were echoed by Austrian Federal Ministry of Finance Director-General for Economic Policy, Financial Markets and Customs, Harald Waiglein, who added that robust public-private sector dialogue and collaboration were necessary to fight illicit crime. UNODC Executive Director Ghada Waly emphasized that the mandate of the UNODC and FATF were complementary, and collective work is needed to tackle financial crime – and in particular to take the profit out of crime.
The UN Special Rapporteur on promotion and protection of human rights and fundamental freedoms while countering terrorism, Fionnuala D. Ní Aoláin, delivered a keynote address on the second day of the Forum. She highlighted the importance of multi-stakeholder dialogue with the non-profit community and proper implementation of the risk-based approach with due regard to human rights and procedural rights while implementing counter-terrorism measures.
Throughout this event, participants shared their perspectives on the evolving financial crime landscape, particularly in the wake of the COVID-19 pandemic. They discussed various policy and operational responses to both current and emerging risks. Participants also agreed on the importance of deepening public-private partnerships in the fight against illicit finance and learnt more about the key aspects of the next round of FATF mutual evaluations, which will begin next year.
The PSCF also provided an opportunity for the FATF to share and discuss preliminary findings of its ongoing projects with private sector stakeholders, academia and civil society. This included forthcoming updates to the FATF best practices paper on preventing the abuse of non-profit organisations for terrorist financing and potential revisions to FATF Recommendation 8, and other projects such as the illicit funding from cyber-enabled fraud and misuse of citizenship by investment schemes. In addition, thematic discussions focused on payment transparency and digital transformation, including the use of SupTech for supervisory purposes and RegTech for more effective and efficient compliance by the private sector. Participants also discussed recent revisions to FATF Standards relating to transparency of beneficial ownership and their implications for the private sector, to ensure that these strengthened measures are effective in preventing criminals from hiding their illicit activities and assets behind shell companies, trusts and other legal persons and arrangements.
In his closing remarks, the FATF President stressed that there are no short-term solutions in the fight against financial crime, and the global community cannot fight organised crime without being highly organised itself. “We must also adopt a long-term perspective by consistently building and strengthening the collaborative networks between the public and private sectors, which need to be stronger than those of criminal networks."
The valuable insights gained from the discussions over the last two days will help shape FATF’s ongoing and future work and will be discussed further at the upcoming FATF Plenary in Paris in June 2023.
On behalf of all participants, the FATF expresses its gratitude to the UNODC for hosting the 2023 PSCF at the United Nations Office in Vienna.
Law enforcement has arrested 60 people, and recovered 11 049 stolen artefacts as part of a major international art trafficking crackdown across 14 European countries.
Known as Pandora VII, this operation was led by Spain (Guardia Civil), with the support of Europol and INTERPOL.
This iteration of the annual Pandora operation consisted of an operational phase which ran between 13 to 24 September 2022 and which saw several thousands of checks being carried out at various airports, ports and border crossing points, as well as in auction houses, museums and private houses.
Two cyber patrol weeks were organised in the course of Pandora VII, in May and October respectively, with over 8 495 checks being conducted online and 4 017 stolen goods seized.
Some 130 investigations are still ongoing, as a result of which more seizures and arrests are anticipated as investigators around the globe go after those spoiling and destroying cultural heritage.
Operational highlights
Pandora VII led to the recovery of the following stolen artefacts, among others:
-77 ancient books in Italy which the Italian Command for the Protection of Cultural Heritage (Arma dei Carabinieri) seized from an online marketplace. The books had been stolen from the archives of a monastery.
-A Roman marble bust of a woman which was recovered by the Civil Guard (Guardia Civil) in Sevilla, Spain. The sculpture is believed to represent Salonia Matidia, the niece of the emperor Traian.
-3 073 ancient coins, seized from an online sales platform by the Polish Police Service. An additional 117 Dacian and Roman coins were also recovered by Romanian law enforcement after an archaeological site was looted.
-48 religious sculptures and other religious artefacts were recovered by the Portuguese authorities. These objects are believed to have been linked to a series of 15 robberies carried out in churches across northern Portugal between 1992 and 2003. An additional 41 religious and liturgical objects (icons, altarpieces mouldings, etc.) were also confiscated by the Hellenic Police after a house search in Greece.
-13 archaeological artefacts (jewellery, among other things) from the Russian Federation were seized at a post office in Bosnia and Herzegovina.
International cooperation
The following countries took part in Pandora VII: Austria, Bulgaria, Czech Republic, Croatia, Cyprus, Greece, Ireland, Italy, Poland, Portugal, Romania, Spain, Sweden and Bosnia and Herzegovina.
Europol played a key role in implementing the entire operation by facilitating information exchange and providing analytical and operational support.
INTERPOL, through its I-24/7 secure communication system, connected countries in the Balkans and the European Union participating in the exchange of information, supporting the entire operation with a dedicated expert to double check searches against INTERPOL’s Stolen Works of Art Database in order to locate and identify items that had been stolen and items that were still missing. Officers on the ground also made use of ID-Art, INTERPOL’s mobile app.
Operation Pandora, which was first launched in 2016, is an annual law enforcement operation. It is carried out in the framework of the European Multidisciplinary Platform Against Criminal Threats (EMPACT).
On 27 April, a three-day course aimed at strengthening the skills of local entities in conducting effective financial investigations in counter-terrorism concluded in Pejë/Peć. The course was organized by the OSCE Secretariat’s Transnational Threats Department, with the support of the OSCE Mission in Kosovo and the United Nations Office on Drugs and Crime (UNODC).
Following a training-of-trainers course held earlier this year in Vienna, a team of local trainers, supported by international experts, presented topics related to the financial requirements of terrorist organizations and the integral role of financial investigations in counter-terrorism operations, both reactive and proactive. Multi-agency teams engaged in exercises, which emphasized the importance of interagency co-operation in conducting effective financial investigations in counter-terrorist financing.
During the opening remarks, Koen De Smedt, Project Officer at the Action against Terrorism Unit of the Transnational Threats Department, emphasized that the OSCE considers stemming the flow of terrorist funds as the backbone of counter-terrorism efforts. It prevents terrorist organizations from being able to run their operations and, ultimately, contributes to the prevention of attacks.
The course forms part of a comprehensive training programme on countering terrorist financing funded by the United States. The objective of the programme is to further build the operational framework of local bodies to prevent terrorists from moving, using and raising funds for terrorist purposes, in line with international commitments and standards, in particular UN Security Council Resolution 2462 (2019), Financial Action Task Force (FATF) and international human rights standards.
The Qatar Financial Information Unit (QFIU) headed by Sheikh Ahmed Al Thani hosted a panel discussion on Public-Private Partnerships (PPPs) to fight financial crime yesterday at the Ned Hotel, Doha. The discussion was held in view of its national prominent role to combat money laundering and terrorism financing, a major issue affecting the world today.
The event, which gathered over 100 participants from both the public and private sectors, was graced by the presence of the Chair of the Egmont Group of Financial Intelligence Units and Director of the Financial Intelligence Centre of South Africa, Xolisile Khanyile and the Executive Secretary of the Egmont Group, Jerome Beaumont.
The discussion was aimed at strengthening PPPs against financial crime and provide a forum for the Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) stakeholders and the representatives from QFIU, the supervisory authorities and the private sector to discuss and share experiences on matters of common concern involving money laundering and terrorism financing, namely, in terms of examining the links between the public and private sectors in terms of accessing FININT to protect the domestic and global economy and financial system, identifying the good practices and challenges in the area of sharing information between the two sectors and proposing measures to develop effective PPPs.
H E Sheikh Ahmed Al Thani, Head of Qatar Financial Information Unit presented the QFIU experience in PPPs, stressing the importance of the partnership in strengthening the combating system.
Chair of the Egmont Group of Financial Intelligence Units and Director of the Financial Intelligence Centre of South Africa Xolisile Khanyile shared South Africa’s experience in PPP “SAMLIT”, while the Executive Secretary of the Egmont Group Jerome Beaumont highlighted the PPPs in international standards from the Egmont Group perspective.
Chief Financial Crime Compliance and Governance at Qatar National Bank (QNB) Riadh Al Fayech discussed the PPP benefit and risk from the private sector perspective.
Director of the Financial Crime Compliance Department at Qatar Central Bank (QCB) Salem Al Kuwari also underlined QCB’s keenness to promote and maintain effective cooperation between the public and private sectors and ensure the implementation by the financial institutions of QCB’s instructions to improve the reporting process and submit high quality Suspicious Transactions Reports (STRs) to QFIU.
At the conclusion of the discussion QFIU commended the active participation and interaction of the attendees and the continued and joint constructive cooperation in the support of the national anti-money laundering and terrorism financing system; and will prepare a summary report of the panel discussion and distribute it amongst the participants.
Raids form part of three-year investigation into crime syndicate controlling cocaine flow into Europe
Police have arrested more than 130 people in coordinated raids in half a dozen European countries as part of a crackdown targeting the Italian ’Ndrangheta organised crime syndicate, prosecutors and police have said.
The suspects are mostly accused of money laundering, criminal tax evasion, fraud, drug possession, production and smuggling, mafia-type criminal association and the possession and trafficking of weapons, authorities in Germany said on Wednesday.
Carabinieri officers in Italy made 108 arrests across the country after an investigation based in the southern region of Calabria, the historic base of the ’Ndrangheta, which has overtaken Sicily’s Cosa Nostra as Italy’s most powerful and wealthy mafia and controls the bulk of the cocaine flow into Europe. Eighty-five of those arrested were already in jail
A further 15 people were detained on the police orders in the north-western Italian port of Genoa, a man was arrested in the southern Spanish city of Málaga, and about 30 more were held in Germany, where more than 1,000 police searched dozens of homes, offices, and stores in several states.
Belgian prosecutors said police raided more than 20 addresses as part of the three-year-long investigation, codenamed Eureka, which was run by national organised crime squads in Germany, Belgium, France, Italy, Portugal and Spain with the pan-European Eurojust and Europol agencies.
In Germany, the raids focused on targets in the states of North Rhine-Westphalia, Bavaria, Thuringia, Saarland and Rhineland-Palatinate, whose interior minister, Michael Ebling, hailed an “effective blow” against organised crime.
“Today sends a very clear signal: there is no place for organised crime in Europe,” Ebling said. Ten people were arrested in Rhineland-Palatinate, four in Bavaria and 15 in North Rhine-Westphalia. Two suspects from Saarland were arrested in Italy.
Police taskforces in each state were supported by special units from the German federal government and other states as well as officers from the customs and tax investigation departments, the DPA news agency reported.
Italian and Belgian authorities said the syndicate was suspected of smuggling nearly 25 tonnes of cocaine from South America to Europe in container ships arriving in Antwerp, Rotterdam and the Calabrian port of Gioia Tauro between October 2019 and January 2022.
Bavarian authorities said they had been investigating a woman and seven men, all Italian nationals aged between 25 and 48, since July 2020. The Munich-based group, was suspected of involvement in financing cocaine smuggling and money laundering.
More than €22m in illicit earnings was allegedly funnelled from Calabria to Belgium, the Netherlands and South America. German media said a network of restaurants, pizzerias, cafes and ice-cream parlours was suspected of laundering the money.
European authorities have been waging a long-running campaign against the ’Ndrangheta, one of the world’s richest organised crime groups, which has exploited its vast cocaine revenues to extend its reach across Europe and beyond and is believed to operate in more than 40 countries.
Belgian media reported that the trigger for the investigation was the discovery by police in 2019 that the owners of a pizzeria in the town of Genk, who had relatives in Munich, were allegedly in frequent contact with known ‘Ndrangheta cocaine dealers.
Muscat: The Capital Market Authority (CMA) concludes today (Thursday) the compliance and anti-money laundering (AML) programme in insurance companies, which comes within the series of annual training programmes of the national initiative Tamkeen.
The CMA seeks to empower the national cadres in the insurance sector to achieve a sustainability strategy based on strengthening the sector's role in providing an investment environment appropriate to enhance the economic and financial stability in the Sultanate of Oman through qualified and trained national human cadres in various technical aspects of the insurance sector capable of replacing and occupying various technical and senior administrative positions in the various categories of the sector’s companies.
The programme was held to acquaint the participants with all the laws and legislations related to achieving compliance in insurance companies, as well as introduce to them the global systems and approaches used in combating money laundering. It is considered one of the most important training programs in the Tamkeen plan for the year 2023, due to the importance the CMA attaches to corporate governance of the regulated entities to achieve full compliance with all regulations, laws and legislations regulating the sector, and the optimal combating of money laundering and terrorist financing crimes.
The participants learned about the indicators of suspected money laundering crimes in the insurance sector, the activities that constitute money laundering crimes, weaknesses and threats in the insurance sector, in addition to identifying and emphasising the responsibility of senior management in compliance with combating money laundering, and the global approaches based on risk management to enhance compliance and detect and prevent money laundering.
The CMA, as a regulator, seeks, through the training programmes it implements on a permanent and continuous basis, to strengthen its supervisory systems in cooperation with financial institutions in the capital market and insurance sector.
International operation disrupts migrant smuggling cell
RIO DE JANEIRO, Brazil – A suspected member of an organized criminal group involved in document fraud and migrant smuggling has been arrested by the Brazilian Federal Police (BFP).
The 50-year old Iranian national had been on INTERPOL’s radar since the beginning of 2021 following initial reports from the Dominican Republic. According to these reports, Iranian nationals had been detected attempting to cross borders using fake Canadian passports.
The initial inquiries revealed that the Iranian nationals had travelled in small groups from Asia and the Middle East to Brazil, Colombia, and the Dominican Republic before reaching their final destinations in Canada and the United Kingdom.
Brazilian authorities confirmed that the fake passports cost the migrants between USD 30,000 to 60,000.
Intelligence reveals links between migrant smuggling investigations
Intelligence gathered by the General Secretariat’s Human Trafficking and Smuggling of Migrants unit prompted a task force meeting with participants from the Dominican Republic, Brazil, Canada, Colombia and the United Kingdom.
The case was code-named Operation JANO, in reference to the two faces of the Roman God.
Information exchange and international cooperation between INTERPOL’s National Central Bureaus and specialized agencies from Brazil, Belgium, Canada, Colombia, Dominican Republic, and the United Kingdom, was vital in disrupting this migrant smuggling cell in South America.
INTERPOL’s criminal analysis files and the valuable intelligence contributed by partners such as Europol, also helped identify links between this case and other investigations. The links found with other investigations suggested that this criminal group was operating in other regions too including Europe.
INTERPOL’s Human Trafficking and Smuggling of Migrants unit supported national authorities by hosting virtual interviews with migrants who had paid for the suspect’s services in the past. This in turn enabled Brazilian authorities to identify him as the main person facilitating irregular migration from origin to destination countries.
“Migrant smugglers are becoming more and more organized, establishing professional networks that encompass all regions.” Ilana de Wild, INTERPOL’s Director of Organized and Emerging Crime
“The large-scale smuggling of migrants across international borders represents a global threat to the well-being of migrants and national security.
Criminals are also increasingly using fraudulent travel documents to evade detection and commit further criminal activities,” added Ilana de Wild.
Partnerships – key to fighting migrant smuggling
“This arrest is the result of successful investigative work carried out at national and international level. We can only effectively fight migrant smuggling by partnering with other law enforcement agencies.
INTERPOL has a crucial role to play in this respect as it offers a range of expertise and secure police information-sharing capabilities,” said Ricardo Saadi, Director of the BFP’s Organized Crime and Corruption Directorate.
Global police investigations into this organized crime group are ongoing and INTERPOL will continue to support its member countries in locating the criminals involved and dismantling the entire network.
This operation was supported with funding from the European Commission Internal Security Fund Police (ISFP) & Borders and Visa (ISFB) in the framework of INTERPOL’s collaboration with the European Migrant Smuggling Centre.
Europol
Crime Area: money laundering linked to drug trafficking
Action days: 12 April 2023
Participating countries: Spain
Authorities involved: Guardia Civil
-Arrests: 17 arrested (mainly Albanian nationals) in the provinces of Cadiz, Malaga, Madrid and Toledo; 20 individuals searched for
-Seizures: luxury cars and watches, mobile phones, computers, hard drives, firearms, gold cutlery, jewels and luxury items, EUR 142 000 cash; important amount of drugs seized throughout the investigation (10 tonnes of cocaine and 10 tonnes of hashish)
-Assets frozen: 25 vehicles and 22 properties with an estimated value of EUR 4.2 million as well as bank accounts of 14 individuals and 30 companies
Modus operandi: Drug trafficking: smuggling of hashish from Morocco and smuggling of cocaine from South America (Ecuador) to the EU in shipment containers via EU ports. Well-structured family-based organised crime network. Laundering of illicit profits through the misuse of legal business structures
Europol’s contribution: Europol’s European Financial and Economic Crime Centre provided intelligence and analytical and operational support since the onset of the case. On the action day, Europol deployed two money laundering specialists to Spain to cross-check in real-time operational information against Europol’s databases and provide leads to investigators in the field.
