The organization sent massive SMS warning of a false security problem in its online banking accounts.
In Spain, the National Police have arrested seven people in an operation in which they have dismantled a network that defrauded more than 100,000 euros by posing as banking entities on the internet and laundering their earnings by buying cryptocurrencies and also selling their computer applications to other organizations.
As reported by the Police on Monday, in the operation against this highly professionalized network, seven people have been arrested, including the alleged leader of the organization, and five searches have been carried out -four in Hospitalet de Llobregat (Barcelona) and one in the Catalan capital-, in which numerous mobile phones, computer equipment, cryptocurrency storage devices and 74 marijuana plants have been intervened.
The network leader, besides directing the now dismantled organization, offered other criminal groups his computer applications specifically designed for the commission of fraud, according to the Police.
More than 100,000 Euros Stolen
The networks sent massive SMS to the victims, throughout Spain, warning of a security problem in their online banking accounts, with a link that directed them to a fraudulent website created by them, which in its format, text and content almost perfectly simulated that of the bank.
Subsequently, they called the victims by phone, posing as bank employees, to obtain their credentials -such as ID and access passwords-, pretending that they were helping them solve the security problem in their online accounts.
The detainees, with a high degree of specialization, had the knowledge and technical resources to impersonate the telephone and the web of a large number of companies, mostly from the banking sector but also mercantile, energy and parcel services.
With the victims’ data, they took control of their accounts and diverted their money to the organization’s bank accounts, obtaining more than 100,000 euros, which they hid and laundered through the purchase of cryptocurrencies on various platforms.
According to the investigators, the detainees carried out a significant number of cryptocurrency transactions, with the sole objective of making it difficult to trace the money and identify those truly responsible for the scams.
In addition, part of the defrauded money was used to pay for computer equipment and resources, as well as the commissions of the people who provided the bank accounts in which the victims’ money was initially diverted.
The stolen money was sent over and over again through different accounts until it finally reached the top of the criminal network. The leader, in addition to coordinating the actions of the dismantled group, offered “crime as a service” tools to other organizations.
This was achieved thanks to the high technical and professional level of the organization. The detainees marketed their computer applications specially designed for the commission of fraud. The arrested gang worked throughout the territory of Spain and used cryptocurrencies as a means of escaping funds.
Unauthorized Money Transfers
According to the Police, the records carried out have also proven that part of the profits were invested in indoor marijuana plantations.
The investigation began as a result of several complaints from victims who stated that unauthorized money transfers had been made from their bank accounts, which allowed agents from the Central Cybercrime Unit of the National Police to get on the trail of this network.
In their investigation, the Police have been able to prove that the network, which had its epicenter of action in Hospitalet, temporarily moved to other towns in Spain to act from different geographical points to try to make it difficult to locate.
By Marina Meza
