Investigation reveals secret money networks moving hundreds of millions across Europe

Investigation reveals secret money networks moving hundreds of millions across Europe

An investigation found criminals across Europe use "hawala" — a cash transfer system with no bank records — to launder hundreds of millions of euros from terrorism, drug trafficking, human smuggling, and prostitution. A self-described former launderer said he handled several hundred million euros. One case dismantled a ring that moved about 100,000 people into Europe in 18 months.

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