The Dutch Fiscal Information and Investigation Service (FIOD) recently searched a house in Delft, Netherlands as part of a money laundering investigation. The FIOD conducted this investigation in collaboration with Spanish authorities, who detained a Dutch man and searched a property in Marbella.
The searches in the both the countries led to seizure of cash of over 88,000 euros ($104k), cryptocurrency worth over 300,000 euros ($354k), several luxury items, real estate, bank accounts and credit cards.
Many financial criminals use the variations in bitcoin value to explain the changes in their assets. They conceal the source of their funds and assets and thus manage to evade law enforcement authorities. In this particular case, authorities began their investigation after reports from the Dutch Financial Intelligence Unit (FIU).