Hungarian Police Make Five Arrests in Money Laundering and Fraud Investigation

In a joint operation between the Budapest Metro Police and Europol’s European Financial and Economic Crime Centre (EFECC), a criminal organization suspected of money laundering and fraud using administrative documents was dismantled. The raids took place on May 9, 2023, in three Hungarian cities.

Arrests and Search Warrants

Budapest Metro Police, with Europol’s support, executed search warrants on 24 addresses, leading to the arrest of five suspects. Their ages range from 35 to 50. The operation marked the successful conclusion of a Europol-coordinated investigation.

Fraudulent Financial Transactions

The suspects are alleged to have used falsified administrative documents for financial transactions, which are believed to be related to money laundering and fraud activities.

Key Points

• Budapest Metro Police conducted raids in three Hungarian cities.
• Five suspected individuals were arrested between the ages of 35 and 50.
• Europol provided intelligence and operational assistance.
• The suspects used falsified administrative documents for financial transactions.

Europol’s Role and Support

Europol’s European Financial and Economic Crime Centre (EFECC) supported Hungarian law enforcement throughout the investigation. They supplied intelligence and operational assistance, highlighting Europol’s contribution to Member States’ efforts in combating financial crimes.

Additional Information

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Ongoing Investigation

At present, no further details have been released regarding the extent of the suspected financial crimes or the targets of the money laundering operations. The investigation is ongoing, and additional information will be shared as it becomes available. Stay tuned to AMLi for the latest updates.