"Hawala-Banking": Grossrazzia against illegal banking system in Germany | SWR News

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In North Rhine-Westphalia, Hesse, Hamburg, Berlin and Baden-Wurttemberg, there was a large-scale crackdown on a group of suspected money haulers in the early morning. There were six arrest warrants.

As reported by the state criminal police in Dusseldorf, the officials have searched around 60 metal companies, jewelers and private homes of suspects. They should have illegally transferred a three-digit million in Turkey – through a so-called hawala banking. WDR reporter Arne Hell explains what's behind it



















The main suspect is a metal dealer from Duisburg

Where the money comes from is unclear. The investigators suspect that a large part of the money is black money or comes from illegal business and the network belongs to organized crime.

The focus of the searches is in North Rhine-Westphalia. The main suspect is to come to information from WDR, NDR and Suddeutsche Zeitung from Duisburg and there, among other things, lead a metal trade.

It is about 200 million euros

Searches of apartments and companies are also in Baden-Wuerttemberg, Hesse, Hamburg, Berlin and in the Netherlands. The aim of the actions should also be to confiscate money. It should go to a total of more than 200 million euros.

Basically, operating your own banking system in Germany is illegal. Such transactions require a banking license.



Source link
https://www.swr.de/swraktuell/Grossrazzia-gegen-illegales-Banksystem-in-Koeln,grossrazzia-illegales-banksystem-100.html

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