The investigation which took 8 months was facilitated by Europol
The organized crime gang was dismantled following an operation led by the US Secret Service and the Spanish National Police. The Europol coordinated operation also involved the US Department of Justice, Financial Crimes Enforcement Network as well as police service from Denmark, Greece, and Austria.
In a single operation carried out on 6th October 2020, over 40 house searches were carried out. In fact, 37 suspects including 11 in Greece, 2 in Austria, 1 in the UK, and 23 in Spain were arrested. Besides, 13 luxury cars were also seized.
Overall, 105 suspects were arrested among 88 house searches carried out. More than £12 million in damages was reported and 87 accounts frozen. The law enforcement offices seized £406,000 in cash and 14 luxury vehicles. 19 European arrests were also executed.
The gang, mainly composed of Greek nationals, established shell companies and opened respective bank accounts. The members of the gang transferred money from various EU locations to the companies’ bank accounts, a move that enabled them to gain the trust of the banks. The banks then issued credit and debit cards for these accounts.
The criminal gang then used the cards to access the accredited amounts on the cards. The money was transferred to bank accounts in various EU countries. Among the victims of the criminal organization include 50 financial firms in America.
We’ve reported that Interpol arrested three Nigerian cybercriminals.