News

Snowed Under, Belgian Investigators Still Dropping Cases Against Financial Crime

By Gabriel Vedrenne

Budget and staffing shortages have forced law enforcement agencies in Belgium to hit stop on dozens of cases against suspected money launderers, art smugglers and other profit-motivated criminals since mid-2021, sources told ACAMS moneylaundering.com. 2021 was a prolific year for law enforcement agencies in Belgium, capped by their infiltration of the encrypted SkyECC telecommunications network and seizure of 90 tons of cocaine—a haul worth billions of euros—in the port of Antwerp. But those successes may have masked a deep, long-term crisis within the country's over-stretched judicial system. "Apart from SkyECC, we can no longer handle money laundering cases and are...

TO READ THE FULL STORY