Europol dismantles Albanian-linked money laundering network, seizes €25 million in crypto

December 18, 2024 – Europol has helped shut down a major illegal banking network tied to drug trafficking and other serious crimes, arresting nine suspects and seizing €25 million in cryptocurrencies. The operation, spanning six countries, followed earlier investigations, Operation GORGON and Operation WHITEWALL.

The investigation started in 2021 when Spanish authorities seized cash linked to a cocaine trafficking case. Some bills had notes on them, which led investigators to a British national running an underground banking operation in southern Spain. The network was controlled from Dubai, with ties to Albania. A suspect from Albania was found to be facilitating large money transfers through cryptocurrencies. The suspect was arrested in September 2022.

In November 2024, Europol coordinated a major operation in Malaga, Spain, working with law enforcement from Belgium, Bulgaria, the Netherlands, and the United States. The operation seized €35,000 in cash, luxury goods, documents, and €25 million in cryptocurrencies. Authorities also discovered that criminals were using cryptocurrencies to launder illicit money.

Europol played a key role, providing expertise in financial crime and cryptocurrencies. The agency helped coordinate the efforts of international law enforcement and private sector partners to disrupt the criminal activities.

The investigation is ongoing, with authorities targeting more parts of the network involved in money laundering and other crimes.

Participating law enforcement agencies:

Albania: Special Prosecution Office for Anti-Corruption and Organised Crime (SPAK), National Bureau of Investigation (NBI)
Bulgaria: General Directorate Combating Organized Crime (GDCOC)
Belgium: Federal Police (Federale Politie)
Netherlands: Fiscal Intelligence and Investigation Service (FIOD)
Spain: Guardia Civil
United States: Drug Enforcement Administration (DEA)