EU Police Bust €12M Transatlantic Money Laundering Ring

Law360, London (February 3, 2021, 5:06 PM GMT) -- Police have arrested more than 100 members of a criminal gang accused of laundering €12 million ($14.4 million) through 50 different U.S. banks after an investigation by European and American law enforcement agencies, Europol said Wednesday.

The European Union police agency said it helped to coordinate a investigation by the Spanish National Police and the U.S. Secret Service, leading to authorities uncovering a large organized crime group engaged in fraud and transatlantic money laundering.

Operation Secreto, as it was dubbed, included 88 house searches and more than €1.3 million in frozen assets held at 87 bank accounts, Europol said.

"The criminal...

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