Fourthline, INTERPOL and AML collaborators identify 18K money mules

A crackdown on money laundering in Europe by a Europol-coordinated group and utilizing Fourthline’s digital identity and fraud prevention technologies has brought down 18,000 money mules and resulted in more than 1,800 arrests.

The two and a half month-long project was carried out in collaboration with INTERPOL, Eurojust, the European Banking Federation (EBF), and the FinTech FinCrime Exchange, and 26 countries.

The announcement from Europol notes Western Union and Microsoft, along with Fourthline, as private sector players who worked with law enforcement agencies and financial institutions to carry out the action against money laundering operations in Europe, Asia, North America, Columbia and Australia.

“We are proud to have played a part in Europol’s anti-money mule operation – EMMA 7 – and look forward to collaborating with them in the future in the fight against money laundering. Our mission is to fight financial crime,” comments Fourthline CEO Krik Gunning. “To build a safer financial ecosystem, the industry must leverage technology and actively promote cross-border cooperation, both between financial institutions and through public-private partnerships. To that end, we work with a diverse group of crime fighting agencies around the world including Europol and the French National Police to strengthen efforts to tackle financial crime.”

Fourthline said in a recent whitepaper that there were 45 anti-money laundering (AML) penalties levied around the world last year, totaling over $2 billion.

Article Topics

AML  |  criminal ID  |  digital identity  |  financial services  |  Fourthline  |  fraud prevention  |  Interpol  |  law enforcement  |  regulation