Spanish Civil Guard Busts Organization Dedicated to Laundering Money With Crypto
The Spanish Civil Guard has broken up a group that used cryptocurrencies as a tool to launder money. The organization, that operated in Madrid, supposedly lent these services to other criminal organizations. The MAUNA operations, as they were called by the Spanish Civil Guard, discovered phantom companies in several countries like Spain, Belgium, Sweden, Germany, and Lithuania that supported these actions. Spanish Civil Guard Shuts Down Crypto Money Laundering Activity in Operation MAUNA The Spanish Civil guard announced on February 15 the detention of several people linked to an....
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Authorities in Hong Kong have arrested four people suspected of money laundering a total of $155 million through cryptocurrency wallets and bank accounts. The city’s customs agency said this was its first case in which virtual money had been used to launder dirty cash. Money Laundering Syndicate Recycles $155 Million in Crypto and Fiat Transactions The criminal group is believed to have processed illegal funds for a total of 1.2 billion Hong Kong dollars ($155 million), Hong Kong Customs announced Thursday. In an operation code-named “Coin Breaker,” officers detained the....
Europol worked with Spain’s Civil Guard and Catalan police to arrest six suspects aged in connection with the scheme.
The CEO of Arbistar the Spanish investment company, Santiago Fuentes, has been arrested and arraigned on charges of fraud, belonging to a criminal organization and money laundering. Fuentes, who has been in hiding since September, was arrested at one of his properties in the south of Tenerife. The Arbistar Pyramid Scheme Fuentes’ arrest stems from lawsuits filed by Arbistar clients who allege pyramid fraud after the bitcoin trading company abruptly froze accounts leaving 32,000 families affected. During a hearing, the Investigating Court Number 3 of Arona (Tenerife) described....
This is a translation of the statement made by the Financial Superintendence of Colombia, translation provided by our Spanish Editor Adrián Calvo. His Spanish language article on the subject can be found here. Make sure to check out our Spanish coverage of Bitcoin news and other Cryptocoins news at Noticias Sobre Bitcoin. The key point in this Bitcoin warning is in the last few sentences: Finally, this Superintendency notes that supervised entities are not authorized to guard, invest or mediate with virtual currencies. Additionally, people are responsible to know and accept the risks....
Spanish banks are preparing for the possibility of offering crypto assets directly to their customers. According to new regulations, the Bank of Spain must formulate a list of virtual asset service providers and custody companies. However, these institutions are still not sure if they must apply, because banks already comply with anti-money laundering directives derived from other laws.
Spanish Banks Jump to Comply With Crypto Laws
Spanish banks are interested in offering cryptocurrency services to their customers and will be making arrangements to comply with upcoming....