Europe: 178 arrests in successful hit against money muling
23 Nov 2016

Supported by Europol’s European Cybercrime Centre (EC3) and the Joint Cybercrime Action Taskforce (J-CAT), as well as Eurojust and the European Banking Federation (EBF) the second coordinated European Money Mule Action (EMMA) culminated in the arrest of 178 individuals. Law enforcement agencies and judicial authorities from Bulgaria, Croatia, France, Germany, Greece, Hungary, Italy, Latvia, Moldova, the Netherlands, Poland, Portugal, Romania, Spain, United Kingdom, Ukraine, the United States Federal Bureau of Investigation (FBI) and United States Secret Service participated in the international operation.

Across Europe, 580 money mules were identified and the national law enforcement agencies interviewed 380 suspects in the course of the action week (14-18 November 2016), with overall reported losses amounting to EUR 23 million. During the week of the joint action, Europol and Eurojust set up a command post and a judicial coordination centre to assist the national authorities, cross-check all incoming data against the databases and collect intelligence for further analysis. Europol also deployed mobile offices to Italy and Romania. The successful hit on this wide-spread crime was supported by 106 banks and private partners.

Count reading this article to your CPD minutes, by signing up to our CPD Wallet

FREE CPD Wallet
Must Read

Understanding EU anti-money laundering law: EU 4AMLD, EU 5AMLD, EU 6AMLD

In recent years the European Union has looked to flex its legislative muscle and come up with an array of laws aimed at cracking down on money laundering and terrorism financing. Key to its package are its various directives, which impact national laws, banking operations and other industries across… Read More

Banking: Curbing employee fraud and corruption with an effective KYE program

The banking system’s vulnerability to fraud, corruption and money laundering is once again a focal point of debate in the wake of recent disclosures by the Central Bank of Nigeria that major losses have been recorded by banks from armed robbery cases and other criminal activities amounting to N12bn… Read More