October 24, 2023 at 08:09AM
Spanish law enforcement has arrested 34 members of a criminal group that conducted online scams, resulting in €3 million ($3.2 million) in illegal profits. The arrests were made in multiple locations, and authorities seized weapons, cash, vehicles, and electronic material. The group infiltrated financial and credit institution databases and conducted scams using email, SMS, and phone calls. They also sold fake bank websites and collected information through specialized forums. The leaders of the network used false documentation and invested their profits in crypto assets. This follows previous arrests of a Barcelona-based group and the discovery of a money laundering scheme involving China-based scammers.
Key takeaways from the meeting notes:
– Spanish law enforcement officials have arrested 34 members of a criminal group involved in cyber fraud, resulting in €3 million ($3.2 million) in illegal profits.
– The arrests were made after searches were conducted in Madrid, Malaga, Huelva, Alicante, and Murcia.
– Items seized during the operation include simulated firearms, a katana sword, a baseball bat, €80,000 in cash, four high-end vehicles, and computer and electronic material worth thousands of euros.
– The criminals had infiltrated databases of financial and credit institutions, collecting cross-referenced information on four million people.
– The scams, which involved email, SMS, and phone calls, included impersonating banks and electricity supply companies to defraud victims.
– The criminals used various tactics such as “son in distress” calls and manipulating delivery notes from technology firms.
– The group also diverted computer and electronic products from suppliers through the help of a member working in a multinational technology firm.
– Unauthorized access to customer databases at financial institutions was used to add funds to customer accounts, followed by contacting customers to inform them of a supposed erroneous deposit. Victims were then directed to a bogus link to capture their credentials.
– The cybercrime network also made money by selling fake bank websites, mass message programs, and collecting information from specialized forums.
– The leaders of the network used false documentation, spoofing techniques, and invested their profits in crypto assets.
– This operation follows the arrest of 55 members of the Black Panthers, another Barcelona-based group involved in cybercrime.
– Recent discovery of a money laundering scheme involving counterfeit instant loan apps and India’s Unified Payments Interface (UPI) has been reported.
– The scam targets victims by collecting personal and financial information through Android apps and manipulating mobile numbers associated with victim accounts to initiate illegal transactions.
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