Police Hit on the Dubai Bank, the Narco-Bank at the Service of Drug Lords
7 Articles
7 Articles
Spanish police have dismantled an international underground banking network allegedly providing financing and money laundering services to some of Europe's leading cocaine traffickers. The operation, targeting the network also known as the "Dubai Bank," resulted in the arrest of 21 people and the seizure of assets worth approximately €20 million.
El Mundo
"It has been possible to attack the financing of the numbers one of the drug trafficking that flooded Europe with cocaine," says a police officer in charge of the operation, who has ended with 21 detainees.
Millions of euros are said to have washed the network known as "Dubai Bank" – with drug stores. In Spain alone, 14 suspects were arrested.
Spanish police announced on Tuesday the dismantling of an international illegal financial network that, according to investigators, provided services to some of the largest cocaine smugglers in Europe. Twenty-one people were arrested in the operation, and assets seized were estimated at €20 million.
It was clarified that this action broke up an international financial network that investigators suspect served as a kind of "drug bank" for financing large shipments of cocaine and money laundering of criminal organizations around the world.
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