Police Arrest 1800 in Major Money Laundering Crackdown
Europol has identified more than 18,000 money mules and arrested 1800 for a serious crackdown on money laundering.
About 27 countries participated in the 7th European Money Mule Action (EMMA 7), which ended yesterday. According to Europol.
In a two-and-a-half-month initiative, police in these jurisdictions, along with Europol and Eurojust, worked with the European Banking Federation (EBF), FinTech FinCrime Exchange, and private companies such as Western Union, Microsoft, and Fourthline.
The purpose was to target not only the individuals themselves, but also the sources of their interests.
Approximately 400 banks have participated, reporting 7,000 fraudulent transactions and preventing losses of an estimated € 70 million ($ 79 million). It is not clear who was arrested, but about 18,351 money mules and 324 recruiters were identified.
According to Europol. The EMMA Initiative has been in place since 2016 and is the largest international project of its kind.
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