By PAUL O’DONOGHUE, Senior Correspondent
SPANISH and Portuguese authorities have arrested 14 people involved in a money laundering network run primarily by Russian nationals.
The gang, which provided laundering services to other criminal groups in the EU, is believed to have processed over €1 million since the investigation began, according to EU law enforcement agency Europol.
Authorities carried out coordinated raids on 21 January 2025, targeting locations in Spain (Madrid, Málaga, Marbella, Torremolinos, Coín, and Ayamonte) and Portugal (Lisbon). The operation led to:
- 14 arrests
- 9 house searches
- Seizure of over €1 million in cash and cryptocurrency
Money laundering operation
The suspects, operating mainly in Spain, allegedly used the Hawala system to move illicit cash, much of it linked to drug trafficking. Europol said the group handled transactions “reaching up to €300,000 per day”, laundering the funds through a network of businesses.
Financial investigation focus
Europol said it supported the investigation by providing data analysis and operational expertise. A specialist worked on-site during the raids, assisting authorities in extracting and analyzing evidence.
The organization said it has increasingly focused on targeting high-value criminals and tracing illicit financial flows. “The most dangerous organised crime groups use complex laundering schemes to hide their profits. Europol is enhancing its analytical capabilities ,” Europol said.
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