World News

Police in 17 Countries Smash Huge Money Laundering Scheme

Agents from five continents have smashed a huge money-laundering scheme that allegedly helped 1 million criminals hide their profits.

The U.S. Justice Department said Tuesday it indicted the Costa-Rican based Liberty Reserve digital currency company. Five suspects were arrested in New York, Spain and Costa Rica. Two others are still at large.

The indictment accuses Liberty Reserve of laundering $6 billion in profits from crimes, including credit card fraud, identity theft, drug trafficking and child pornography.

Justice officials say Liberty reserve gave criminals a way to hide their money without leaving a trace by letting them set up accounts with fake names and phony addresses.



Police in 17 countries helped U.S. and Costa Rican authorities break up the ring. They include agents in Morocco, China, Russia, Australia and western Europe.

Feature Story

Militant Islamist fighters parade on military vehicles along the streets of northern Raqqa province, Syria, June 30, 2014.

Video British Fighters on Frontline of Islamic State Information War

It’s estimated that several hundred British citizens are fighting for Islamic State alongside other foreign jihadists More