International Operation Dismantles Large-Scale Fraud Network, €400,000 Seized in Assets
International Law Enforcement Operation Takes Down Complex Fraud Network
A coordinated international law enforcement operation has taken down a complex fraud network that targeted citizens across Europe, resulting in the arrest of 11 suspects and the seizure of over €400,000 in cash.
The Fraudulent Scheme
The operation, supported by Eurojust, was aimed at dismantling a fake call centre operating from three offices in Dnipro, Ukraine. The fraudulent scheme involved luring victims into investing in a bogus cryptocurrency platform, promising unusually high returns.
Once the initial investment was made, the scammers would request additional funds, claiming they were needed to cover legal fees to recover the lost money. The victims were then persuaded to install remote access software, allowing the fraudsters to gain access to their online banking accounts and transfer funds to accounts controlled by the group.
Victims and Investigation
According to investigators, the operation has so far identified victims in Latvia and Lithuania who have lost over €160,000, although it is believed that many more people may have fallen prey to the scam.
Searches at 32 locations resulted in the seizure of electronic equipment, documents, computers, and SIM cards, which are currently being analyzed as part of the ongoing investigation.
International Cooperation
The operation involved authorities from Latvia, Lithuania, and Ukraine, and was coordinated by Eurojust, which continues to support national authorities in combating cybercrime by facilitating cross-border investigations.
The successful takedown of this complex fraud network highlights the importance of international cooperation in disrupting and dismantling organized cybercrime groups.
Warning and Next Steps
The investigation has also shed light on the increasingly sophisticated tactics used by cybercriminals to deceive and manipulate their victims.
The use of fake investment platforms and remote access software to gain control over victims’ online banking accounts is a stark reminder of the need for vigilance and caution when engaging in online financial transactions.
As the investigation continues, authorities are working to identify and support additional victims of the scam, and to bring those responsible to justice.
The seizure of over €400,000 in cash is a significant blow to the fraudsters, and serves as a warning to other organized crime groups that law enforcement agencies are committed to disrupting and dismantling their operations.
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