Spanish Police take down €140 million cyber fraud ring, arrest four

[Dave1]

The Spanish Police dismantled a cybercrime and money-laundering organization that made €140 million ($160 million) from investment fraud and business email compromise (BEC) attacks.

As part of the law enforcement operation, four people were arrested in Spain, Portugal, and Panama.

The police describe the operation as an industrial-level scheme as it involved at least 800 bank accounts, 120 business accounts, and 67 external accomplices who acted as “money mules.”

https://www.bleepingcomputer.com/news/security/spanish-police-take-down-140-million-cyber-fraud-ring-arrest-four/

Authorities are not going to get tired of dismantling this criminal network one by one. This time it was effort of Interpol and Europol. The criminals though was huge as they have mule banks in 3rd world countries to laundered the dirty money.

So at least one has gone down, but for sure there will be another criminal gangs and so the crime will not stop and so are the police trying to hunt them down. And even if they try to hide it within crypto networks they are going to track them down.

[YOSHIE]

Spanish Police take down €140 million cyber fraud ring, arrest four

This is one of the best news in international cyber network arrests, where the Spanish police and several other organizations have done a perfect job, The success of the Spanish police is anticipating and preventing fraudsters from making fake investments in the crypto world, With the success of dismantling this cyber network, the Spanish public is aware of many crypto exchange platforms that lead to fake investments.

Every day, fake crypto investment fraud is becoming increasingly widespread, where they always promise profits for their use, that's what we can all learn from this case incident in Spain, this crime can happen anywhere, so don't easily believe in emails. and incoming phishing SMS.