Drugs and other banned stuff go hand in hand with cryptocurrencies.
In Australia, police joined forces with federal authorities in the United States to arrest a group of men.
Three men aged 34, 39, and 45 were arrested in a storage facility in the city on Saturday as part of an ongoing investigation into drug importation and money laundering.
The officers and a riot squad team executed search warrants at two apartments near the location of the earlier arrests.
A Huge Stash Of Cash And Crypto
According to the authorities, they seized $4.7 million in cash, laptops, money counters, mobile phones, and other devices that allow users to use cash or a debit card to acquire cryptocurrencies.
The younger man had $120,000 in cash, while the elder man had $51,500 in cash, according to authorities.
Five kilograms of banned narcotics, including cocaine, heroin, and methyl amphetamine, have been recovered.
The US Department of Homeland Security and the Australian Criminal Intelligence Commission provided assistance to the police.
Money-laundering and trading in the proceeds of crime are charges faced by the younger man.
The 39-year-old was accused of 12 counts, including supply of illegal drugs and knowledge of dealing in proceeds of the crime. He was denied bail on Saturday.
The elder man will appear in court next month on charges that he knowingly dealt in the proceeds of crime and provided banned narcotics.
According to Detective Supt., the arrests and the confiscation. The effectiveness of multi-agency operations in suppressing big crime across the state was demonstrated by Robert Critchlow.
“Strike Force Mactier is a well-coordinated multi-agency operation that has shown its ability to disrupt severe organized crime in New South Wales,” Detective Superintendent Robert Critchlow
Authorities Pass Crypto Bill
There is growing concern in Australia over the use of digital currency. The primary goal of the legislation is to deter the criminal use of cryptocurrencies for money-laundering and terrorist financing.
In the aftermath of the COVID-19 outbreak, the Australian police have adopted a “follow the money” policy.
“We look forward to continuing to cooperate with the NSW Police Force and other domestic and foreign partners to ensure the success of our operations,” ACIC executive director of intelligence operations, Robert Jackson, said.
Nine government agencies, including the Australian Federal Police and the Australian Tax Office, have formed a task group to fight these crimes.
Featured photo source pexels.com
