Brazilian Authorities Launch Operations Against Cryptocurrency Money Laundering Entities Three Times in a Month
On Wednesday, October 11, Brazil's Federal Police launched Operation Alcacaria to crack down on networks focused on using cryptocurrencies to provide money-laundering services, News.Bitcoin reported. The operation involves 62 search warrants, 13 arrest warrants, and the seizure of funds held in banks by the entities involved. The operation was carried out by the Brazilian police in conjunction with the Federal Tax Service. The anonymous organizations targeted by the police are being investigated for their involvement in money laundering, tax evasion, the operation of illegal financial institutions and the use of false documents. In addition police are tracking and investigating trading platforms that work with these operators, which provide digital asset liquidity for their money laundering activities. However the public list has not yet been released.
Last month, Brazil also executed Operation Niflheim, a high-level crackdown on three organizations that used cryptocurrencies to launder close to $10 billion, which was transferred to the United States, the United Arab Emirates (UAE), and other countries. Operation Alcacaria became one of three major operations against cryptocurrency money laundering crimes in Brazil in less than a month.
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