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The victims of the criminals were more than 50 American financial institutions, which lost more than 12 million euros.
As part of an international law enforcement operation led by the Spanish National Police and the US Secret Service and coordinated by Europol, an organized criminal group involved in money laundering was eliminated. The operation also involved law enforcement agencies in Austria, Denmark and Greece, the US Department of Justice and the US Financial Crimes Enforcement Agency (FinCEN).
According to Europol, on October 6, 2020, law enforcement officers raided more than 40 homes, arrested 37 suspects (two in Austria, 11 in Greece, 23 in Spain and one in the UK) and seized 13 luxury cars.
In total, 105 suspects were arrested during the operation, 88 houses were searched, 14 luxury cars and 406 thousand euros in cash were seized, and 87 bank accounts with 1.3 million euros were seized.
The criminal group, consisting mainly of Greek citizens, was engaged in registering dummy companies in the United States and opening accounts for them. In order to gain the trust of financial organizations, criminals transferred money to these accounts from different parts of Europe. Based on trust, banks issued debit and credit cards for these accounts. The retailers involved in the fraudulent scheme, mainly from Spain, used these cards to finance the available amounts credited to them.
To launder the stolen funds, they transferred them to different bank accounts belonging to members of a criminal network located in several EU countries. The victims of these fraudulent actions were more than 50 American financial institutions, which lost more than 12 million euros.
As part of an international law enforcement operation led by the Spanish National Police and the US Secret Service and coordinated by Europol, an organized criminal group involved in money laundering was eliminated. The operation also involved law enforcement agencies in Austria, Denmark and Greece, the US Department of Justice and the US Financial Crimes Enforcement Agency (FinCEN).
According to Europol, on October 6, 2020, law enforcement officers raided more than 40 homes, arrested 37 suspects (two in Austria, 11 in Greece, 23 in Spain and one in the UK) and seized 13 luxury cars.
In total, 105 suspects were arrested during the operation, 88 houses were searched, 14 luxury cars and 406 thousand euros in cash were seized, and 87 bank accounts with 1.3 million euros were seized.
The criminal group, consisting mainly of Greek citizens, was engaged in registering dummy companies in the United States and opening accounts for them. In order to gain the trust of financial organizations, criminals transferred money to these accounts from different parts of Europe. Based on trust, banks issued debit and credit cards for these accounts. The retailers involved in the fraudulent scheme, mainly from Spain, used these cards to finance the available amounts credited to them.
To launder the stolen funds, they transferred them to different bank accounts belonging to members of a criminal network located in several EU countries. The victims of these fraudulent actions were more than 50 American financial institutions, which lost more than 12 million euros.
