A joint operation by Spain’s National Police, Europol, and Hanover police in Germany, with support from French authorities, has dismantled an international cybercrime group behind large-scale bank fraud across Europe.
According to police, the group developed and sold phishing and smishing tools that allowed other criminals to steal banking information from victims. The suspects operated under a “Crime-as-a-Service” model, providing ready-made cyber fraud tools and platforms in exchange for payment.
The investigation, which began in 2022, uncovered a network active in Spain, France, Germany, Austria, and the Netherlands, with links to Morocco and the United States. Authorities say the organization stole confidential banking data from thousands of victims and stored the information on hidden online platforms before selling it to other cybercriminals.
Police say the group directly targeted more than 2,000 customers of German banks through phishing campaigns and carried out fraudulent bank transfers using stolen credentials.
During coordinated raids in Barcelona, Sitges, Paris, and Nice, officers arrested three suspected leaders of the organization. Authorities seized cryptocurrency assets worth around €1.5 million. Also, they found evidence of money laundering through luxury goods and property purchases.
Authorities estimate confirmed financial losses at more than €4 million, though they believe the true amount could be much higher because many victims may not have reported the crimes.