September 20 2017
Five men, including a Barclays bank manager, have admitted being part of a network responsible for laundering at least £16 million stolen by international cyber criminals, following an investigation by the National Crime Agency.
Over a three year period, the group set up and controlled around 400 bank accounts in a conspiracy which involved receiving stolen funds into one account, then dispersing it in smaller amounts to a number of other accounts. This process would be repeated several times to disguise the source of the money before it was transferred back to cyber criminals in Eastern Europe.