The raid highlights the intricate networks employed by criminal organizations and their attempts to infiltrate foreign economies.
**Significant Crackdown on Russian Mafia's Money-Laundering Operations in Southern Europe**
**Significant Crackdown on Russian Mafia's Money-Laundering Operations in Southern Europe**
A covert operation spanning Spain and Portugal dismantles a major €1tn laundering ring tied to drug trafficking.
Fourteen arrests were made across Spain and Portugal as authorities cracked down on a sophisticated money-laundering network attributed to the Russian mafia, which allegedly funneled over €1 trillion (£828 billion) across Europe in just two years. The operation, primarily involving Russian nationals, was revealed by Europol and the Spanish National Police in a series of coordinated raids on nine properties, netting over €1 million in cash and cryptocurrencies.
The criminal enterprise reportedly acted as a "multinational money laundering company," taking a commission of 2-3% from transfers connected to illegal drug trafficking. The network is believed to have serviced a range of organized crime groups, including Albanian, Serbian, Armenian, Chinese, Ukrainian, and Colombian factions within Europe and beyond.
The investigation, which began earlier in 2023, was sparked by suspicions of systematic money transfers by known Russian mafia members to foreign nationals. Authorities disclosed that the group employed the "Hawala" system, allowing them to move money internationally without conventional banking systems, thus complicating detection efforts.
In an astonishing revelation, gang members showed intentions to extend their operations into Cuba, proposing solar panel installations for the Cuban government in exchange for valuable minerals. Communications revealed the gang's representatives making claims of influential connections with Spanish political figures.
Each property raided, located in cities like Madrid, Málaga, and Lisbon, contained security measures such as safes and money-counting machinery designed to operate discreetly. To stay off the authorities' radar, members frequently changed their locations, vehicles, and utilized encrypted phones that would automatically lock down if one of them was arrested.
As the investigation unfolds, police confirm that three primary leaders of the operation remain in custody and additional arrests are expected as the probe into this complex web of organized crime continues.
The criminal enterprise reportedly acted as a "multinational money laundering company," taking a commission of 2-3% from transfers connected to illegal drug trafficking. The network is believed to have serviced a range of organized crime groups, including Albanian, Serbian, Armenian, Chinese, Ukrainian, and Colombian factions within Europe and beyond.
The investigation, which began earlier in 2023, was sparked by suspicions of systematic money transfers by known Russian mafia members to foreign nationals. Authorities disclosed that the group employed the "Hawala" system, allowing them to move money internationally without conventional banking systems, thus complicating detection efforts.
In an astonishing revelation, gang members showed intentions to extend their operations into Cuba, proposing solar panel installations for the Cuban government in exchange for valuable minerals. Communications revealed the gang's representatives making claims of influential connections with Spanish political figures.
Each property raided, located in cities like Madrid, Málaga, and Lisbon, contained security measures such as safes and money-counting machinery designed to operate discreetly. To stay off the authorities' radar, members frequently changed their locations, vehicles, and utilized encrypted phones that would automatically lock down if one of them was arrested.
As the investigation unfolds, police confirm that three primary leaders of the operation remain in custody and additional arrests are expected as the probe into this complex web of organized crime continues.
