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ARTICLE · 13 DECEMBER 2022

Recently-Announced US Arrests Regarding Cryptocurrency-Related Money Laundering

Rahman Ravelli
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The United States has announced that it has charged 21 individuals for their roles in global cryptocurrency money laundering networks.

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Angelika Hellweger
Angelika Hellweger
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Recently-announced US arrests regarding cryptocurrency-related money laundering are considered by Angelika Hellweger of financial crime specialists Rahman Ravelli.

The United States has announced that it has charged 21 individuals for their roles in global cryptocurrency money laundering networks.

The 21, who are all US citizens, were arrested after an investigation by the US Secret Service, the Postal Inspection Service, and the Department of Justice (DOJ) - named Operation Crypto Runner - into a network that is said to have been responsible for over $300 million in money laundering transactions a year.

The 21 identified conspirators allegedly laundered millions of funds gained from romance scams, business email compromises, and real estate frauds. These criminal proceeds were then exchanged for cryptocurrency.

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