Spanish and French police announced on Friday that they have dismantled an international network of Chinese nationals capable of laundering €1 million a day across Europe.
Five people were arrested in Spain, including the leader of the network.
The investigation, led by the French National Anti-Fraud Office and Spanish police with the support of Europol, began after French customs officers discovered over €500,000 hidden in a vehicle near Perpignan, Southern France, in February 2021.
The investigation revealed the existence of a group specialising in money laundering operating across all European Union Member States since at least 2019, according to a joint statement issued in France.
The network, composed of Chinese nationals living in various European countries, was able to smuggle more than €1 million a day in cash across Europe.
Its modus operandi involved establishing various collection points for funds from counterfeiting, tax and customs fraud, and pimping. This collection was then entrusted to a network of logistics personnel, who organised trips for accomplices to transport the sums across Europe, the joint statement revealed.
The money transfers were organised either by road or air, another joint statement published in Spain stated.
Five people, including the network’s head, a Chinese businessman, were arrested at an unspecified date in Madrid, Valencia, Alicante, and Barcelona.
A dozen searches were conducted at homes and businesses, and over €167,000 in cash, some of it hidden in false ceilings or coolers, was seized with the assistance of canine units.
