Spain’s Guardia Civil helps smash drug-money bank suspected of laundering €180 million

As reported in a statement from Europol this Thursday, April 13, the organisation supported a joint investigation between the Belgian Federal Judicial Police Leuven (Federale Gerechtelijke Politie Leuven) and the Spanish Guardia Civil. This led to the disruption of a large-scale money laundering and underground banking system.

At least €180 million in illicit profits generated by cocaine trafficking had been laundered by the criminal network, which consisted of Moroccan, Spanish, and Belgian nationals. The criminal network was active in Belgium and branched out to the Netherlands, Spain, South America, and Dubai.

🚨 Underground drug-money bank laundering EUR 180 million liquidated by law enforcement.

The investigation, led by 🇧🇪 & 🇪🇸, was launched after law enforcement analysed decrypted #SKYECC messages indicating the criminal activity.

Details ⤵️https://t.co/Uju2C5hnJ8 #EMPACT

— Europol (@Europol) April 13, 2023

Its members had set up a complex and professional system to launder illicit profits generated by importing cocaine via ports and airports into the EU.

During a coordinated on March 2023, law enforcement officers arrested five suspects in Belgium and another in Spain. A total of €1.2 million in cryptocurrencies was seized, along with three properties, €50 000 in cash, a luxury car, several luxury watches and jewellery, 23  phones, three safe boxes, and a money counting machine.

The criminal network relied on investments in cryptocurrencies and the distribution of cash via an underground banking system. A main money laundering method was operated via investment in luxurious real estate projects in the EU, as well as in several Moroccan cities.

An investigation was launched in October 2021, after analysing decrypted SKY ECC messages indicating the presence of a large-scale criminal network importing cocaine and laundering illicit profits. The investigation revealed that large amounts of cocaine were being trafficked from various South American ports to several maritime ports and airports in Europe.

By using contact persons at these various entry points, the organisation succeeded in importing several tonnes of cocaine and selling it on for a massive profit. Using a professional and flexible approach, involving methods such as the use of cover companies, the criminals managed to evade the authorities until the decryption of the SKY ECC network.

Europol provided analytical and operational support since March 2022, by confirming links with other countries and identifying new connections. An Operational Task Force was set up to tackle criminal organisations working as underground banks, thus financing criminal activities and laundering illegal profits of other criminal organisations.

A Joint Coordination Centre was established in Leuven, Belgium, on the day of the operation, where members of Europol and the Spanish Guardia Civil were deployed. Specifically, Europol provided support on location by deploying a money-laundering specialist, an analyst and a cryptocurrency specialist.