Latvian police dismantle money laundering network in Ukraine

The Latvian State Police's Cybercrime Investigation Department, in collaboration with international partners, has dismantled a money laundering network operating in Ukraine. During raids in Kyiv and Dnipro between August 3 and August 5, two individuals were detained.

The investigation, part of the criminal process ‘VENI, VIDI, VICI’, targeted a scheme used to conceal funds obtained through telephone fraud. The group utilized cryptocurrency and complex financial flows to hide stolen assets. Authorities have determined that the losses to Latvian residents exceed 200,000 euros.

This operation represents the second phase of an ongoing investigation. The first phase involved the disruption of fraudulent call centers in Dnipro. This current phase focused on identifying the individuals responsible for laundering the proceeds through blockchain transactions. The investigation was conducted alongside the Riga District Prosecutor's Office, Eurojust, and law enforcement agencies from Lithuania and Ukraine.