Full-scale action against EUR 2 billion money laundering network via Lithuanian financial institution

Judicial and law enforcement authorities in Italy, Latvia and Lithuania have taken concerted action against a large-scale money laundering business, centring around a Lithuanian financial institution. Since 2017, an estimated EUR 2 billion has been laundered by two main suspects via a worldwide web of shell companies. The suspects, who now have been detained, offered money laundering online as a service to criminals.A third main suspect, leading another organised crime group (OCG), was arrested in the same operation for defrauding the Italian authorities of EUR 15 million in public funds. These funds were laundered via the same myriad web of enterprises, centred around the financial institution in Lithuania.Read More