Reported by Max Ramsay

Over a third of the most-threatening criminal networks in the European Union are laundering their profits through real estate, according to a report on organized crime across the region.

Europol, the EU agency for law enforcement cooperation, found that among the criminal groups that pose the most serious threat, 41% used property to launder their illicit proceeds, with luxury items, cash-intensive businesses like hospitality, and cryptocurrencies also popular methods. 

The mapping of criminal groups comes as the EU attempts to crack down on organized crime, amid drug-related violence in a number of member states, including Belgium and Sweden, and record cocaine seizures at Europe’s second-largest port, the Port of Antwerp. 

The report identifies 821 criminal groups — with an overall membership of over 25,000 — that pose the highest-risk to the bloc.

Read full report: https://www.bloomberg.com/news/articles/2024-04-05/organized-crime-is-laundering-money-through-european-real-estate