UAE and Sweden Bust Cross-Border Crypto Money Laundering Ring

The UAE and Sweden have arrested seven individuals in connection with a cross-border money-laundering operation that moved around SEK 70 million (~AED 26.5 million) over ten months using cryptocurrencies.

According to the Emirates News Agency (WAM), the arrests were made on September 17, following direct security coordination and intelligence sharing between the two countries.

The gang allegedly used cryptocurrencies to transfer cash proceeds from criminal activity across borders, with investigators tracing cryptocurrency transactions and analyzing digital evidence uncovering links to organized crime and contract killings.

Brigadier Abdulaziz Al Ahmad, Director General of the Federal Criminal Police at the Ministry of Interior, stated that the operation 'underscores the effectiveness of security cooperation' between the UAE and Sweden.