A former police officer was arrested on Tuesday morning on suspicion of offering clandestine financial services and laundering around 4.2 million euros in a year. The 32-year-old from Landsmeer, Noord-Holland, was taken into police custody in his home town. He was to be arrested on Friday in Rotterdam.
“The arrested suspect once trained as a police officer, but was fired for breaching his professional secrecy,” police said in a statement. Authorities did not say when he was released, or whether it was related to the investigation that led to his arrest.
A joint investigation by the police and the Financial Crimes Inspectorate, FIOD, involved a decrypted private communication, which led authorities to the suspect. The estimate that he laundered more than 4 million euros was based on a forensic analysis of telephone communications. “Telephone calls also revealed that the man was involved in drug trafficking,” police said in a statement.
A search of two houses in Landsmeer revealed 122,000 euros held in cryptocurrencies and another 30,000 euros in cash. The police also confiscated a Mercedes AMG and an Audi A3.
Underground banking is considered crucial to international organized crime and is considered a crime that undermines society and the democratic rule of law. “Underground banking is a form of organized crime in which large amounts of cash are moved or converted into cryptocurrencies within a network of underground bankers and currency brokers. This money comes mainly from drug trafficking and is used to invest in wealth or criminal activity,” police said.