Europol dismantles a major underground banking network serving organised crime and drug-trafficking groups, arresting 21 suspects and identifying around €20M in assets

The operation resulted in 21 arrests and the identification of around €20 million in assets, including cash and luxury goods, while investigators uncovered an informal financial system operating across multiple countries to transfer criminal proceeds outside the regulated banking sector. The case highlights the growing role of professional underground bankers in providing organised crime with cross-border money-transfer and laundering services…