- The Fiscal Information and Investigation Service has arrested two men in suspicion of money laundering with cryptocurrency.
- The investigations led by the Functional Parket are looking into money laundering with Cryptovault in the Netherlands.
- The first arrested is a 45-year-old man from the southern province of south holland, and he has been arrested in the suspicion of laundering more than 2 million euros.
The Fiscal Information and Investigation Service (FIOD) has arrested two men in suspicion of money laundering with cryptocurrency
. The investigations led by the Functional Parket are looking into money laundering with Cryptovault in the Netherlands.
The first arrested is a 45-year-old man from the southern province of south holland, and he has been arrested in the suspicion of laundering more than 2 million euros. He had made large purchases using his cryptocurrency credit card, and the transactions could not be explained by his income and assets declared to the Tax Authorities.
He had also made several large cash withdrawals with the same card. The amount was approximately 10,000 euros in cash, and the FOID has seized approximately 3 kilos of gold, dozens of wallets with approximately 260,000 euros in cryptocurrency, debit/credit cards with crypto and euros, a car, watches, and jewelry.
In the second investigation, a 31-year-old man from the province of Groningen was arrested. Two other suspects are heard. The suspicion is that they have laundered a considerable amount, which in total would be close to 100,000 euros. The Bestmixer.io service was used for this.
Based on the Bitcoin address used, the IP team could identify the IP address. The mixing service was probably used to disguise income and launder. Administration and many data carriers, such as computers, smartphones, USB sticks, and hard drives, have been seized by the FOID.
The collaboration in the so-called J5 was formed in mid-2018. The J5 consists of the tax investigation services of Australia, Canada, the UK, the US, and the Netherlands. The aim is to take the lead in the fight against international tax crime and money laundering.
The partnership focuses on building international enforcement capacity by, among other things, sharing information and intelligence. Operational cooperation within the J5 is starting to bear fruit, which is also accelerating FIOD investigations.
There has been an increasing amount of attempts to launder money by using cryptocurrency recently. Even though the authorities are working hard to contain these attempts, there are still many illegal activities happening at large.