Svmuu News: Brazilian police announced the launch of “Operation Veil of Maya,” simultaneously executing nine search and seizure warrants in São Paulo, Ribeirão Preto, Porto Alegre, and Canoas to target a money-laundering network involving 87 shell companies. The operation’s name derives from the philosophical concept of the “Veil of Maya,” which refers to the illusions that conceal reality.
Investigations reveal that cryptocurrency primarily served as a vehicle for cross-border fund transfers within this money-laundering network; criminals received illicit proceeds through shell companies, converted the funds into crypto assets, and then transferred them overseas. Those involved may currently face charges of money laundering, tax evasion, participation in organized crime, and other related offenses; however, police have not yet disclosed the scale of the funds involved or the amount of assets seized. (IBTIMES)