Five Arrests in Hungary: Europol Uncovers Widespread Money Laundering Across Three Continents

On May 9, 2023, Europol announced the apprehension of five suspects in Hungary for their involvement in money laundering activities spanning three continents.

Coordinated European Operation

The operation, which was part of Europol’s European Multi-Agency Operations (EMAO), involved:

1. 24 house searches in Budapest, Pest County, and Szabolcs-Szatmár Bereg County
2. Interrogation of 16 suspects
3. Arrest and pre-trial custody of five individuals

Identifying and Dismantling Money Laundering Networks

Hungarian authorities collaborated with Europol’s European Financial and Economic Crime Centre (EFECC) to:

1. Identify money laundering networks
2. Carry out investigations
3. Dismantle the networks

Origin of Seized Funds

The seizures included:

• A high-end vehicle
• Substantial electronic equipment
• Mobile phones
• Sim cards
• Data storage devices

The funds originated from:

• 32 countries across Europe
• Australia
• South America

Europol’s Role

Europol provided advanced tools and expertise to:

• Investigate financial crimes
• Enhance international cooperation

Executive Director of Europol, Catherine De Bolle, commented, “This operation highlights the importance of strong international cooperation in tackling financial crime.”

European law enforcement agencies continue to collaborate to eliminate criminal organizations that exploit financial systems for illicit activities.