We're joining the European Cybersecurity Month initiative promoted by the European Commission and the European Union Agency for Cybersecurity!

This campaign aims to raise awareness about cybersecurity through training, awareness-raising, and dissemination of best practices for protecting yourself online.

Over the next few weeks, CSIRT-CAN will analyze the cybersecurity challenges facing Europe.

According to Europol data, cybercriminals have laundered more than €1.5 trillion, and it is estimated that this figure will reach €10.5 trillion by 2025. Ransomware criminal groups are one of the biggest problems in the European Union today.

But how do cybercriminals launder money? Today we explain the money laundering process.

Money laundering is the process by which dirty money from the underground economy becomes clean and usable, allowing criminals to enjoy economic impunity.

In the past, Italian mafias laundered their profits by founding pizza chains and investing in the hotel sector. However, today, in the world of celebrities, there is another, much more profitable and difficult-to-identify model.

Cybercriminals want their loot clean. When these groups obtain millions of dollars in cash through online scams, data theft, and other strategies, they have several methods to invest that money and obtain clean profits.

1) Cryptocurrencies

According to ENISA, more than €22 millions of cybercriminals' annual investment is in cryptocurrencies. You buy a currency, wait for its value to rise so you can clean up your profits and continue generating wealth.

2) Playing in Crypto Casinos

Through online ads, they encourage you to increase your cryptocurrency earnings by playing at online casinos, on websites where you invest your money to continue gambling.

3) Pornography

Many organizations invest in recording studios or webcam platforms, where you can access for a fee, pay models, and request exclusive services.

4) Startups.

The sophistication of their investments leads them to want to invest in and support new cybersecurity technology initiatives. Entrepreneurs are unaware of where the funding comes from, as they present themselves as investment funds for startups.

The Internet brings with it the sophistication of criminality. European Union agencies work daily to combat online crime and create a safe ecosystem for all.