Croatian Authorities Uncover Suspicious Financial Transactions
Investigation Launched into Large Cash Withdrawals and International Money Transfers
Zagreb, Croatia - The Croatian authorities have launched an investigation into a series of suspicious financial transactions involving domestic natural persons and foreign companies.
According to sources, several individuals made large cash withdrawals from giro accounts in different commercial banks on the same day, totaling between HRK 200,000.00 and HRK 300,000.00. These transactions were below the legal threshold for reporting requirements, sparking concerns about money laundering and other financial crimes.
International Money Transfers
The investigation has also uncovered that several individuals remitted large sums of cash internationally through companies providing payment services, including money transfers. The senders and receivers of these funds are from various countries, including:
- Russia
- Ukraine
- USA
- Germany
- Israel
- Nigeria
- Mali
- Liberia
- United Arab Emirates
- Portugal
- Italy
- Moldova
- Canada
- Brazil
- Argentina
Links to Human Trafficking and Organized Crime
The investigation has uncovered a possible link to human trafficking, illegal trading of humans, and international prostitution.
Fraudulent Activities
Furthermore, authorities have found that several individuals raised funds from other natural persons with the intention of establishing a bank in Croatia with foreign ownership. The raised funds were used for currency trading, and securities issued to investors turned out to be false and worthless.
The investigation has also uncovered two more examples of fraud involving foreign currency trading on the FX market:
- Several individuals raised funds from other natural persons to establish a bank, but the funds were instead used for personal expenses and real estate purchases.
- Individuals presented themselves as brokers and financial experts, promising investors large profits from investments in currency trading. The investigation has found that these individuals entered into contracts with investors, creating a perception of a serious and safe business, but the majority of the raised funds were withdrawn by the individuals or deposited into accounts controlled by related parties.
Ongoing Investigation
The investigation is ongoing, and authorities are working to uncover the true nature of these transactions and potential links to organized crime groups.