Spanish police arrested the suspected mastermind behind a cybercrime syndicate that used luxury goods, real estate and cryptocurrency to launder at least €1 billion stolen from more than 100 financial institutions in recent years, Europol disclosed Monday.
The FBI is preparing to apprehend dozens of money mules who appear to have ignored the bureau's warnings to cease opening and using bank accounts to launder the proceeds of fraud, a senior law enforcement official said.
The recent blacklisting of six Nigerian nationals accused of defrauding U.S. victims out of $7 million through online scams opens a new front in the Treasury Department's use of financial restrictions against criminals and U.S. adversaries, sources told ACAMS moneylaundering.com.
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