NewsOrganised Crime

A Spanish company was using a complex scheme to launder the criminal profits by simulating transactions across Europe

Europol supported the Spanish authorities in targeting an organised crime group laundering millions of euros of illegal profits coming from the trafficking of substandard saffron. The criminal network mixed real saffron with herbs and chemicals to increase their margins before exporting it. More than 500 shipments of this adulterated saffron have been identified, worth an estimated amount of €10 million.

The criminal network laundered their criminal proceeds through multiple bank transfers emanating from a Spanish company to different companies across the EU pretending to having bought this saffron.

These companies were not in the import-export business, which raised suspicions. The investigation into the transactions revealed a complex trade-based money laundering scheme set-up across the EU. The criminal network also used carriers to transport large amount of cash derived from the criminal business. The carriers were controlled by money brokers operating in the EU and with connections in non-EU countries acting as nodes in the hawala network.

• The action day on 25 February in Spain led to:
• 17 arrests
• Seizures including: 7 luxury cars and watches, gold and jewellery, 400kg of saffron threads, 80kg of saffron stigmas, machines for saffron counterfeiting and €14 500 in cash

Europol supported the operation by facilitating information exchange and providing analytical support. On the action day, Europol deployed two experts to Spain to provide technical and analytical expertise and cross-check in real time operational information against Europol’s databases and provide leads to investigators in the field.