2020-11-2 09:30 |
A fraudulent couple met an unexpected end to their dubious business when the Dutch police caught them with over 2500 Bitcoin worth $33 million. The Rotterdam District Court has sentenced the couple to two years’ imprisonment for money laundering. According to reports, this couple has been in the business for more than 2 years. The police discovered that they have laundered up to $19 million since then.
From the OpenBaar Ministerie press release, the authorities didn’t stop at seizing the $33 million bitcoin. They also took all their computer equipment, cell phones, jewelry, a vehicle, and hard drives. Apart from these items, the police discovered that the couple also had their respective businesses, and the police went ahead to confiscate €138,000 & €40,000. Moreover, the court also requested the two companies to pay fines to the tune of €45,000, respectively.
Laundering money through BitcoinThe couple was both living in Hilversum, Holland. According to the reports we got, they buy and trade Bitcoin without letting the tax authorities know. Also, they have been dealing with customers through the dark web, and that’s where they trade the cryptocurrency. From what we learned; this couple never asks their clients to identify themselves.
They didn’t also bother to carry out any form of KYC even when the deals ran into millions. Right now, one of the money launderers will spend two years in prison while the other individual will spend two and a half years.
Given the recent surge in crypto money laundering, the financial regulators of many governments have upped their game in monitoring these activities. Recently, the government of Switzerland and the United Kingdom has made attempts to tighten the regulations around crypto operations.
In fact, some crypto exchanges are now working with the government to reduce the rate of crypto money launderers. Binance is one of the exchanges that has been helping the authorities in this quest.
In a compromised FBI report, the agency showed how they could track these BTC/USD launderers on the illegal dark web. However, other reports point out that the traditional channels are still facilitating money laundering. So, it’s not only happening through the dark web.
The post Dutch Police impounds $30 million worth of Bitcoin from perpetrators appeared first on Invezz.
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