Spain busts secret Chinese and Arab bank

Spain busts secret Chinese and Arab bank

Hawala hell: Spain busts secret shadow bank laundering millions in cash, crypto and Cuban cigars.

Spain busts lucrative Chinese-Arab money laundering ring

Madrid (AFP) May 14, 2025 Spanish police on Wednesday said they had broken up a Chinese-Arab ring that laundered $21 million of proceeds from people and drug trafficking through the informal "hawala" money transfer system. Police said the investigation began after the dismantling of a migrant-trafficking gang transporting mostly Syrians between Algeria and Spain, which led to a probe into their finances. An Arab

Spanish police dismantle lucrative Chinese-Arab money laundering ring - Spain in English

Spanish police said on Wednesday that they had dismantled a Chinese-Arab criminal network accused of laundering $21 million in profits from drug and people trafficking, using the informal ‘hawala’ money transfer system. The investigation was launched after police disrupted a human-smuggling ring that had been transporting predominantly Syrian migrants from Algeria to Spain, prompting a deeper examination into the group’s financial activities. Ac…

They had set up what, according to investigators and prosecutors, was considered a real money laundering center capable of cleaning dirty money. A sort of "bank" with operational bases in Rome and branches in Slovakia, the United Arab Emirates and the United Kingdom. A...

Europol, Spanish police dismantle ‘mafia crypto bank’ laundering funds across continents - Coin Surges

Spanish law enforcement has dismantled a sprawling underground financial network that allegedly laundered more than €20 million through crypto transactions for organized crime groups based in China and the Arab world, local media reported on May 14. The criminal ring, which police described as one of the largest clandestine crypto-banking operations uncovered in Europe, operated a shadow financial system designed to evade regulatory oversight wh…

Agents of the National Police, in an operation that has benefited from the cooperation of Europol, have dismantled a criminal organization that acted as a clandestine bank using the method known as hawala, a system outside all financial controls and that consists of handing over the cash in the confidence that these funds will be reinvested in their own illegal activities, all with the great help that cryptoactives currently offer. People of Ara…