German authorities conduct money laundering raids

BERLIN (AP) - German authorities have conducted raids in five states in connection with money laundering and illegal transfers abroad.

German news agency dpa reports that some 850 officers, including tax fraud investigators, raided 63 buildings across the country and in the Netherlands. Some 27 suspects aged between 23 and 61 are accused of involvement in money laundering schemes. Several people were arrested, but it was not immediately clear how many.

Dpa reported the suspects used 'œhawala'ť money transfer networks where individual fund transfers are used instead of regular bank operations.

Criminal police in the western state of North Rhine-Westphalia said in a statement that with the help of hawala, 'œallegedly illegal fortunes worth several million euros was transferred past the legal banking system.'ť