Extensive investment scam that has stolen € 3 million tackled by Europol
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- Europol has dismantled an organized crime group
- The group carried out investment scam
- More than 100 victims lost a combined € 3 million
A worldwide operational organized crime group has been dismantled by Eurojust and Europol in a joint operation with German, British, Cypriot, Albanian and Israeli researchers – which leads to the arrest of a suspect. Eurojust confirms The group is deceiving more than a hundred victims and took over € 3 million through a fake online investment platform.
The group used cyber trade and was able to “make considerable profit” and to cheat the victims. The group, as criminals often do, promised substantial profit in a short period. After victims had transferred money to the platform, they were then shown false graphs that indicate that they could earn much more if more is transferred to the platform.
The online networks used criminals who occurred as real estate agents and used ‘psychological tactics’ to convince the victims to transfer more finds, which of course were never actually invested in something, but were previously stolen directly by the group.
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The scam was discovered after a couple reported the fraud to the German authorities – and an investigation revealed an extensive network of criminals. Legal enforcement grabbed evidence in connection with the research such as documents, electronic devices and cash.
Digital scams, in particular investment fraud, is a serious danger and costs internet users millions every year. Especially new tools for cyber criminals AI Tools, helping fraudsters to pump campaigns rising for a few minutes, As a result of which criminals have access to cyber crime with much less skills than in the past.
This goes beyond extensive phishing campaigns, with deepfake notes, deepfake calls or videos, and even fake websites generated by AI generated that simulate legitimate companies
“The good news is that there are ways to prevent them from falling victim to such attacks,” said Aaron Walton, threat Intel Analyst at Expel.
“Many organizations build technological solutions to prevent malignant e -mails from being landed in users’ inboxes by automatically detecting suspicious indicators. Users can also protect themselves and their organizations by marking all the e -mails that seem suspicious for their security teams.”
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