Cyber-fraud ring dismantled after stealing 140 million euros
The international operation resulted in four arrests and the blocking of three million euros in illicit funds.
Cyber-fraud ring dismantled after stealing 140 million euros
An international police operation has brought down a gang specialising in digital crimes that managed to amass 140 million euros. Arrests were made in three countries: Spain, Portugal and Panama.
The four detainees used various deception methods: fictitious internet investments, impersonation of executives, issuance of fraudulent invoices and interception of communications. To conceal the money, they set up a structure with hundreds of bank accounts and dozens of shell companies, as well as employing sixty-seven money launderers of different nationalities.
The operation was carried out in collaboration with EUROPOL and INTERPOL. It all began when investigators detected suspicious bank movements that appeared to be legitimate business transactions but actually concealed asset laundering.
Throughout the investigation, agents analysed bank statements, monitored suspects, carried out telephone interceptions and requested assistance from other states. Thanks to these efforts, they located those coordinating the network and the European citizens who served as intermediaries for the money.
The first phase of execution included six property raids in Barcelona, Girona, Tarragona and the Portuguese city of Porto, where the alleged leader lived. Another of the ringleaders fled to Panamanian territory after several stopovers; his arrest was achieved through an international arrest warrant and the help of local forces.
The flow of verified illicit money exceeds 94 million euros, to which must be added 61 million more defrauded last year through the fake executive director technique. During the intervention, three million euros in assets were frozen for return to those affected.
In the raids, more than 170 mobile devices and 15 computer systems used to manage thousands of bank transactions were seized. The authorities consider the money-laundering structure dismantled both in Spain and in its branches abroad.
Source: Ministry of Interior
Source: Google News ES — Crime (es)