Swedish Gangs Reportedly Using Fake Streams On Spotify To Launder Money
14 Sep 2023
Swedish gangs are reportedly using music streaming platform Spotify and fake streams to launder money.
According to Swedish newspaper Svenska Dagbladet, criminal gangs have been using the platform for years to clean their ill-gotten gains.
An anonymous police investigator called Spotify “a criminal tool” also saying “gangs launder money from drug dealing, robberies, fraud and assassination missions, via the platform,” making millions in the process.
SvD said its information had also been confirmed by four gang members from separate criminal networks in Stockholm.
The gangs reportedly convert their dirty cash to bitcoin, then used the cryptocurrency to pay people who sold fake streams on Spotify.
The scheme reportedly goes even deeper than just money laundering according to one of the report’s sources who said, “It’s about more than buying streams. If you’re a network and you want to attract kids and you have a rapper who’s going big, that’s half the job for you. It is very good for recruiting purposes.”
Spotify said it had not found “any data or hard evidence that indicates that the platform is being used at scale in the fashion described,” adding that “less than 1% of streams on Spotify have been determined to be tampered with.”