Politics
Criminals operating an illegal financial service to launder millions of euros busted | Eurojust
Investigations into the group began in 2023 when border police in Spain noticed suspicious trips from their airports transporting large sums of money. The trips to Cyprus by members of the criminal group were used to deliver criminal profits, which were then laundered. Authorities stopped the criminals from travelling and seized more than EUR 1.8 million.
The authorities discovered that the group was running a sophisticated money laundering service for other criminal organisations. The group acted as a financial service to transfer criminal profits internationally. Cryptocurrencies were used to move cash profits between criminal organisations. To dispose of the cash profits, money was transported on commercial flights, mainly to Cyprus, and by public transport to neighbouring countries of Spain. The group was able to carry out four to six money laundering transactions per week.
Running this financial service required a professionally structured organisation consisting of at least 52 members, operating mostly from Spain and Cyprus. The group worked with contacts outside of their organisation to liaise with clients and receive the cash to be laundered. Their contacts are linked to several commercial companies around the world.
As the financial service was used throughout Europe, authorities had to work together to stop the criminal group. An international investigation was launched by setting up a joint investigation team (JIT) at Eurojust between Spanish, Cypriot and German authorities, Eurojust and Europol. Through the JIT, information from tax and judicial authorities was exchanged that led to the takedown of the criminal group. Europol supported this international operation with experts specialised in financial crime, fighting high-risk criminal networks, unravelling money laundering structures, and tracing cryptocurrency flows.
A series of actions were carried out to stop the financial service. In October 2024, actions were carried out in Spain, France and Cyprus to dismantle the criminal group. This was followed by actions in November 2024 that targeted actors working with the criminal group. A total of 91 searches were carried out, 77 in Spain, 1 in France and 13 in Cyprus. Twenty suspects were arrested in Spain, one in France and two in Slovenia. Authorities seized a total of EUR 8 million in cash, 2 million in bank accounts and froze EUR 27 million in cryptocurrency. Investigations into the group and its financial service continue.
The following authorities were involved in the actions:
- Spain: Investigating Judge no 2 of El Prat de Llobregat; Public Prosecution Office of Barcelona; Guardia Civil Special Central Unit 3, Destabilizing Threat Group-UCO
- Cyprus: Attorney General’s Office; MOKAS (Unit for Combating Money Laundering); Criminal Investigation Department (CID) (in collaboration with other police departments)
- Germany: Public Prosecutor’s Office, Landshut; Customs Investigation Office, München
- France: Judicial Court of Marseille, Interregional Specialised Jurisdiction against organised crime (JIRS) ; National Anti-Fraud Office (ONAF), Marseille/Nice.
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Following Ireland’s request for assistance relating to power outages caused by the record-breaking storm Éowyn, the EU Civil Protection Mechanism has been activated. The EU has immediately mobilised 13 power generators from the Commission’s own strategic reserve, rescEU, hosted in Poland. 4 power generators offered by Denmark via the Mechanism will also soon reach Ireland and help provide electricity on the ground.
The EU also activated the Copernicus Emergency Management Service and has provided analytical support to the national authorities.
The EU’s Emergency Response Coordination Centre continues to closely monitor the situation and remains in constant contact with the national authorities, ensuring that additional assistance can be promptly channelled if needed.
EU Commissioner for Preparedness, Crisis Management and Equality, Hadja Lahbib, said:
“Extreme weather events, like storm Éowyn, increasingly put Europe‘s disaster resilience to the test. But they also demonstrate the growing strength of our joint preparedness and solidarity efforts. Our thoughts are with all those affected and with the first responders in Ireland who are doing their best to bring life back to normal. I thank Denmark for their prompt offer of assistance, and Poland for their excellent collaboration in hosting and delivering the rescEU power generators to Ireland. We are in this together.”
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A new framework to rekindle economic productivity and secure the EU’s competitive edge has been presented by the European Commission. The Competitiveness Compass builds on the recommendations set out in Mario Draghi’s report on the future of European competitiveness. It will steer the EU’s work on competitiveness over the next five years and translate the report’s recommendations into concrete actions for the EU’s future prosperity.
The EU enjoys a strong system of rights and values, a Single Market, top-notch infrastructure and a skilled workforce, but the Compass recognises that more must be done to ensure Europe keeps pace with other major economies in a challenging and increasingly competitive world. While all the time looking to secure the EU’s climate neutrality, it sets a path for Europe to become the place where future technologies and clean products are invented, manufactured, and put on the market.
The Compass identifies 3 core areas of action:
- Innovation – The EU must close the innovation gap by creating an environment where innovative start-ups, effective industrial leadership and the diffusion of technologies across businesses thrive. Concrete initiatives from the Commission include ‘Apply AI’ and ‘AI Gigafactories’ to drive industrial adoption of AI; action plans for advanced materials, quantum, biotech, robotics and space technologies; and an EU Start-up and Scale-up Strategy that will address the obstacles that are preventing new companies from emerging and scaling up.
- Decarbonisation and competitiveness – The EU will help bring down high and volatile energy prices through an Affordable Energy Action Plan. It will set out a competitiveness-driven approach to decarbonisation through its upcoming Clean Industrial Deal, while an Industrial Decarbonisation Accelerator Act will extend accelerated permitting to sectors in transition. It will also launch action plans for energy intensive sectors, such as steel, metals, and chemicals.
- Security and resilience – The EU will reduce dependencies and increase its resilience and security by continuing to build effective trade partnerships with economies around the world. Through a new range of Clean Trade and Investment Partnerships it will help secure a supply of raw materials, clean energy, sustainable transport fuels, and clean tech from across the world. It will also review public procurement rules to introduce a European preference in public procurement for critical sectors and technologies
Underpinning these actions will be five cross-cutting activities:
- Simplification by drastically reducing the regulatory and administrative burden on firms
- Lowering barriers to the Single Market through its Horizon Single Market Strategy
- Financing competitiveness by establishing a European Savings and Investment Union
- Promoting skills and quality jobs through a Union of Skills
- Better coordination of policies at EU and national level by introducing a Competitiveness Coordination Tool
The Competitiveness Compass is the first major initiative of the Commission in the 2024-2029 mandate.
For more information
Strengthening European competitiveness
Draghi report
Communication – A Competitiveness Compass for the EU
A factsheet on the Competitiveness Compass
Press release: An EU Compass to regain competitiveness and secure sustainable prosperity
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