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EU Authorities Snare Crime Network that Targeted US Banks

By Koos Couvée

Authorities in Greece, Austria, Spain and Britain have arrested dozens of individuals suspected of stealing at least €12 million from 50 U.S. financial institutions and laundering the proceeds back into Europe. On Wednesday, Europol, the EU's primary law enforcement agency, disclosed that investigators have taken 105 suspects into custody since October, seized 14 luxury cars and froze €1.3 million in 87 accounts as part of an operation led by Spain's Policia National and the U.S. Secret Service. More than €400,000 in additional cash has been restrained since the initial seizure, but those assets represent a fraction of the €12 million...

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