Uncovered fake saffron trafficking scheme worth millions of euros
Europol assisted Spanish authorities in pursuing an organized crime organization that was laundering millions of euros in illicit proceeds from the saffron trade. Before exporting saffron, the criminal network combined real saffron with herbs and chemicals to boost their profit margins.
According to Europol, there were over 500 shipments with an estimated €10 million worth of this adulterated saffron. Multiple bank transfers originating from a Spanish corporation to various firms around the EU pretended to have purchased this saffron were used to launder the criminal network's proceeds.
The fact that these businesses were not in the import-export industry sparked doubts. The transactions were investigated, and it was discovered that a sophisticated trade-based money laundering scheme had been set up around the EU. Furthermore, carriers were also used by the criminal network to transfer vast sums of money obtained from the criminal enterprise. Money brokers based in the EU and with links in non-EU countries operated the carriers, which served as nodes in the hawala system.
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