22 Hrs
Source:
AL24 News
Spanish police break up Dubai Bank laundering network
Spanish police have dismantled a money laundering network linked to a bank called "Dubai Bank," which provided services to finance and facilitate cocaine trafficking operations across Europe. The network used cryptocurrencies to transfer money illegally. The operation resulted in the arrest of 21 individuals, including the mastermind of the network known as "The Tiger," and seized assets valued at over 20 million euros. These assets include cash, real estate, and luxury cars. This network is part of a larger operation involved in drug smuggling, with Dubai serving as a key hub for collecting proceeds and coordinating activities, following the seizure of a large quantity of drugs in 2021. Investigations reveal how illicit financing helped in transporting shipments and extensively smuggling drugs.
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