Dutch Authorities Make Arrests in Crypto Money Laundering Probes
The Dutch Fiscal Intelligence and Investigation Services (FIOD) arrested two men Monday on suspicion of laundering millions of dollars in cryptocurrency, according to a joint statement by the Joint Chiefs of Global Tax Enforcement (J5).
The Dutch nationals, aged 45 and 31, came to the attention of authorities in separate investigations into money laundering using cryptocurrency. Both are suspected of laundering large sums via a crypto service provider Bestmixer.io.
FIOD clamped down on Bestmixer in May 2019 in cooperation with Europol and police in Luxembourg. The service guaranteed anonymity to customers and the company earned at least $200 million within a year before it was shut down. The investigation showed that many of the mixed cryptocurrencies on Bestmixer.io had a criminal origin or destination.
The suspects made large purchases with a crypto credit card which didn’t match the size of assets and income, and several large withdrawals.
Authorities seized three kilograms of gold and €260,000(US $281,000) in cryptocurrencies, debit and credit cards with both cryptocurrencies and euros, a car, luxury watches and jewelry, and digital and business accounts.
J5 is an alliance of tax enforcement authorities in Australia, Canada, the Netherlands, the UK and the US, that fights transnational tax crime and money laundering.