Authorities have disrupted a massive money-laundering ring that operated across Europe, linked predominantly to Russian nationals and involved in handling illicit funds from drug trafficking. The operation culminated in multiple arrests and the seizure of substantial cash and cryptocurrency.
Major Money-Laundering Syndicate Linked to Russian Mafia Dismantled in Spain
Major Money-Laundering Syndicate Linked to Russian Mafia Dismantled in Spain
A sweeping police operation across Spain and Portugal has led to the arrest of 14 suspects in connection with a vast €1 trillion money-laundering scheme associated with European criminal networks.
In a significant crackdown on organized crime, Spanish and Portuguese law enforcement agencies have arrested 14 individuals linked to a staggering €1 trillion (£828 billion) money-laundering network. Most of those detained, many identified as Russian nationals, were taken into custody following a series of coordinated raids last month targeting the operation, which was noted for facilitating financial transfers for diverse criminal organizations across Europe.
The extensive investigation, led by Europol and Spain’s National Police, revealed that the syndicate primarily laundered money derived from illegal drug trafficking, charging clients a 2-3% commission on each transaction. Nine properties were raided, spanning cities in Spain—such as Madrid, Málaga, Marbella, and Torremolinos—along with locations in Lisbon, Portugal. Authorities seized over €1 million in cash and cryptocurrencies.
The criminal organization appeared to have a sophisticated infrastructure, with each office capable of processing large volumes of cash—up to €300,000 daily—supporting mafia groups from Albania, Serbia, Armenia, China, Ukraine, and Colombia. The investigation began in 2023 when police observed that several known members of the Russian mafia were engaging in daily financial transactions involving foreign nationals.
The group was using a method known as "Hawala," a traditional money transfer system that enables transactions across borders without physical or digital banking involvement. This approach allows for the rapid and discreet movement of funds, complicating efforts for law enforcement to track the money flow.
Additionally, the gang reportedly explored expanding its operations to Cuba, aiming to establish a solar panel business in exchange for minerals, claiming connections with influential Spanish political figures. During the raids, police discovered high-security safes and money-counting machines stored in sound-proof cabinets designed to conceal tampering noises.
The operation's key figures, described as ringleaders, remain in custody, and authorities suggest further arrests are likely in the ongoing investigation.
