Fraudsters arrested in Russia for money laundering through crypto exchanges
Law enforcement authorities in Russia have arrested four individuals suspected of creating the illegal payment system Rapidpay, which serviced cryptocurrency exchange points. This was reported by the press service of the Ministry of Internal Affairs (MVD).
It has been established that the group developed an illegal payment system used to service cryptocurrency exchange points, betting shops, online casinos, and fraud call centers. The staff of the Main Department for Economic Security and Anti-Corruption of the MVD uncovered around 70 independent groups and more than 8,500 bank card details that were involved in the Rapidpay criminal scheme.
The alleged organizers have been charged with "illicit turnover of payment funds committed by an organized group," as stipulated in part 2 of Article 187 of the Criminal Code of the Russian Federation – "Illicit turnover of payment funds." If found guilty, the men face compulsory labor for up to five years or imprisonment for up to seven years, along with a fine of up to one million rubles or the amount of the convicted person's earnings or other income for a period of up to five years, or without such.
Earlier, Artem Sheikin, the first deputy chairman of the Federation Council Committee on Constitutional Legislation and State Building, spoke about the need for licensing crypto ATMs in Russia.
