An extensive international operation has resulted in 18 arrests. German authorities confirmed the crackdown on Wednesday.
The action targeted alleged online fraud and money laundering networks. The criminal scheme implicated German payment service providers in its global operation.
German prosecutors and the Federal Criminal Police Office revealed details of the large-scale fraud. Between 2016 and 2021, alleged criminals utilized credit card data.
This information belonged to 4.3 million individuals across 193 countries. This complex scheme accumulated damages estimated at over 300 million euros.
Method of Operation and Financial Conduit
The suspects reportedly siphoned funds from victims. This was done using unauthorized subscriptions. These subscriptions were tied to fraudulent websites. The sites were designed to mimic legitimate streaming, dating, and general entertainment services.
The defendants compromised four major German payment service providers. This allowed them to successfully process the illegal payments. However, authorities did not release the names of the compromised financial firms.
International Raids and Ongoing Investigation
Authorities disclosed that coordinated searches were executed late on Tuesday. These searches occurred across multiple international locations. Buildings were searched in Germany, Italy, Canada, Luxembourg, the Netherlands, Singapore, Spain, the U.S., and Cyprus.
The investigation remains ongoing. Prosecutors are currently focusing on 44 suspects located in Germany and various other countries. This group includes three categories of alleged perpetrators:
- Members of the main fraud network.
- Employees of the compromised payment companies.
- Providers of crime-as-a-service infrastructure.
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