European law enforcement authorities arrested seven suspects and seized more than 100 servers in a joint action targeting a company suspected of providing fraudulent trading websites to criminal gangs, supported by Europol and Eurojust and following four years of investigation.
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European law enforcement authorities arrested seven suspects and seized more than 100 servers in a joint action targeting an unnamed company suspected of providing fraudulent trading websites to criminal gangs. The action, supported by Europol and Eurojust, involved authorities from Albania, Cyprus, Finland, Germany, Kosovo, and North Macedonia.
According to Europol, the investigation began in 2022 after a German couple reported they could not withdraw money invested through an online trading platform. Investigators linked multiple call center operators behind investment scams to potential victims in at least 50 countries.
Europol said evidence gathered during earlier operations led to the company allegedly operating the 'crime-as-a-service' model from Cyprus and Israel. Investigators also identified suspected clients operating fraudulent call centres in Albania, Kosovo* and North Macedonia, Europol said.
Europol said the scheme promised potential victims substantial, quick returns from trading in foreign currencies, stocks, or cryptocurrency, using deceptive advertisements to direct them to fraudulent investment platforms and steal their personal data. The stolen data was later sold to criminal groups running call centers, whose operators reached out with supposed investment opportunities, encouraged victims to transfer a small amount, and showed them fake online accounts with fictitious profits.
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