European Money Mule Action Leads To 1 803 Arrests

Ivestigation reveals money mules were laundering profits from online fraud schemes such Europol Announces DD4BC Busts - BankInfoSecurityas business email compromise and Forex scams.

Today saw the conclusion of the anti-money mule operation EMMA 7, an international action coordinated by Europol in cooperation with 26 countries, Eurojust, INTERPOL, the European Banking Federation (EBF) and the FinTech FinCrime Exchange. The operation resulted in 1 803 arrests and the identification of over 18 000 money mules. It also revealed that money mules were being used to launder money for a wide array of online scams such as sim-swapping, man in the middle attacks, e-commerce fraud and phishing.

Over roughly two and a half months of operations, EMMA 7 saw law enforcement, financial institutions and the private sector, including Western Union, Microsoft and Fourthline, cooperate in a concerted effort against money laundering in Europe, Asia, North America, Colombia and Australia. As well as targeting the laundering of profits through money muling networks, investigators also sought intelligence on the sources of these illicit profits, shedding more light on the size and nature of the criminal economies that money mules serve. 

Results from 15 September – 30 November

  • 18 351 money mules identified;
  • 324 recruiters/herders identified;
  • 1 803 arrested individuals;
  • 2 503 investigations initiated;
  • 7 000 fraudulent transactions reported;
  • €67.5 million prevented losses.

Collaborating in the fight on money laundering

Money laundering explainedPhoto Credit:

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