Spanish police dismantle operation that made €12M via investment scams

[Gandalf_The_Grey]

Content source

https://www.bleepingcomputer.com/news/security/spanish-police-dismantle-operation-that-made-12m-via-investment-scams/

Spanish National Police have dismantled a cybercrime organization that used fake investment sites to defraud over €12.3 million ($12.8 million) from 300 victims across Europe.

The malicious campaigns involved creating fake cryptocurrency investment sites with a similar appearance to well-known, legitimate platforms.

The threat actors then laundered money stolen from victims by moving it from Spanish banks to foreign financial entities where the criminals hoped it was away from the authorities' scrutiny or tracing ability.

Spain's law enforcement investigation was launched after the legal representative of one of the impersonated financial groups reported the case to the police.

During the operation, six members of the cybercrime organization were arrested in Madrid and Barcelona and will face charges of suspected fraud, money laundering, and usurpation of marital status.

Spanish police dismantle operation that made €12M via investment scams

Spanish National Police have dismantled a cybercrime organization that used fake investment sites to defraud over €12.3 million ($12.8 million) from 300 victims across Europe.

www.bleepingcomputer.com