The Security Service of Ukraine (SBU) has reportedly closed a network of cryptocurrency exchanges used by more than 1,000 ‘customers’ to launder funds received from Russian electronic payments processors, including Yandex.Money, Qiwi and Webmoney.
“The clandestine cryptocurrency exchanges were in demand because they provided anonymity of transactions and possibility of money laundering,” sector journal Bleeping Computer quoted the SBU as saying.
The monthly volume of dirty money is said to have been $11m (€9.4m) with the administrators receiving between 5% and 10% interest from each transaction.
During raids at five locations in Kiev, law enforcement officers seized computers and servers with evidence of illegal activity; mobile devices with VPN software installed; seals and incorporation documents of dummy companies, registered in Ukraine and used for money laundering activities; and $37,330 in cash, the SBU said.
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