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178 arrested in action against money muling: Europol

Xinhua, November 22, 2016 Adjust font size:

Nearly 180 individuals were arrested by police across Europe last week, accused of working as money mules for cyber criminals, the European Police Office (Europol) said Tuesday.

In a coordinated action from Nov. 14 to Nov. 18, 580 money mules were identified and 178 suspects were arrested, with overall reported losses amounting to 23 million euros (24 million U.S. dollars), according to a Europol press release.

Money mules are people who have been recruited as money laundering intermediaries for criminals and criminal organizations.

The police operation was supported by Europol, Eurojust and the European Banking Federation. Judicial authorities from 15 European countries, Ukraine and the United States also participated in the international operation.

Steven Wilson, head of Europol's European Cybercrime Centre, said: "The results of this demonstrate a very strong connection between cyber crime and the illegal transactions identified."

"Law enforcement, judges and prosecutors working together with the banking partners can crack down on extensive criminal networks either knowingly acting as money mules or misusing people who are duped into facilitating financial and other forms of crime," he added. Endit