Brazil Launches Operation to Combat Crypto-Linked Money Laundering
On Wednesday, the Brazilian Federal Police launched Operation Alcacaria to dismantle a network offering money laundering services through cryptocurrency.
The operation executed 62 search warrants and 13 arrest warrants, leading to the seizure of funds from involved entities. Working alongside the Federal Revenue Service, authorities are investigating several financial operators linked to money laundering, currency evasion, and the operation of illegal financial institutions.
They are also tracking exchanges providing liquidity for these illicit activities. This operation follows a recent crackdown on crypto-related money laundering, including Operation Niflheim, which targeted organizations that laundered nearly $10 billion.
Clever Robot News Desk 13th October 2024
