Law enforcement prevented EUR 17.5 million from being laundered by money mules in three-month action.
Law enforcement from 25 countries, supported by Europol, Eurojust, INTERPOL and the European Banking Federation (EBF) have joined forces to crack down on „one of the most important enablers of money laundering: money mules and their recruiters” – according to a press release.
During an operational phase carried out between mid-September to the end of November 2022, 8,755 money mules were identified alongside 222 money mule recruiters, and 2,469 individuals were arrested worldwide.
Now in its eighth edition, the European Money Mule Action (EMMA8) has gone international, with actions carried out in countries as far apart as Colombia, Singapore and Australia.
EMMA is the largest international operation of its kind, built around the idea that public-private information sharing is key to fighting complex modern crimes. This year, and with the continuing coordination of the EBF, around 1 800 banks and financial institutions supported law enforcement in this action, alongside online money transfer services, cryptocurrency exchanges, Fintech and KYC companies, and multinational computer technology corporations.
Australia, Austria, Bulgaria, Colombia, Cyprus, Czech Republic, Estonia, Greece, Hungary, Singapore and Hong Kong (China), Ireland, Italy, Moldova, Netherlands, Poland, Portugal, Romania, Slovak Republic, Slovenia, Sweden, Switzerland, Spain, United Kingdom, United States.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
