Cologne police raid gold shops to combat money laundering

Authorities in Cologne conducted joint operations targeting financial and street crime, specifically focusing on money laundering, illegal cash transfers, and social fraud. The raids targeted gold buying shops and a pawn shop in the Kalk district.

During the inspections of four gold buying businesses and one pawn shop, investigators discovered approximately 120,000 euros in cash in one location, triggering a money laundering investigation. Additionally, the municipal treasury identified outstanding claims of roughly 90,000 euros against one business owner, who paid 30,000 euros on-site. Police also seized gold bars, valuable watches, and other assets.