Dutch authorities arrest two suspects for crypto money laundering

by Karin Chang

7 months ago

Officials at the Dutch Fiscal Intelligence and Investigation Service (FIOD) have announced the arrest of two men suspected of using cryptocurrencies for money laundering.

According to a statement published by the Joint Chiefs of Global Tax Enforcement (J5) – an operational group formed between Australia, Canada, Netherlands, United Kingdom and the United States – the suspects had used the defunct bitcoin transaction mixer .

The suspects were allegedly trying to use the Bestmixer service to conceal and launder income. Based on the Bitcoin address used, the investigative team managed to trace the transactions back to the IP addresses. 

In the first incident, a 45-year-old man from Noordwijk, Netherlands, was arrested on suspicion of laundering about €2.1m. He made large and unexplained purchases with a crypto card to the tune of €10,000. Several items were also found, including three kilograms of gold, € 260,000 in cryptocurrencies, a car and various luxury items. 

In the second incident, a 31-year-old man from Groningen, Netherlands, was arrested over suspicion of laundering approximately €100,000. 

J5 was formed in mid-2018 to strengthen international law enforcement capability through data sharing to fight against international tax crime and money laundering among its coalition countries.


(Source: IRS