An operation by the Spanish National Police has resulted in the arrest of 6 people on suspicion of belonging to a criminal organisation, fraud, money laundering and usurpation of civil status. Almost 300 victims have been identified in different European countries. This organisation, located in Madrid and Barcelona, defrauded more than 12 million euros using phishing techniques.
Their modus operandi consisted of offering financial transactions involving equities, cryptocurrencies and financial products through fraudulent websites, impersonating the identity of a banking institution. The stolen funds were transferred to current accounts opened in Spain, Portugal, Poland and France. Subsequently, the money was transferred for laundering between accounts held by the organisation in different countries.