Post by : Bianca
Haleem
Law enforcement carried out a coordinated international operation that dismantled a sprawling online fraud and money-laundering ring, detaining 18 suspects after simultaneous actions across ten countries, including Germany, Italy, the United States and Singapore.
Investigators say the syndicate, active between 2016 and 2021, harvested credit card information from more than 4.3 million individuals in 193 nations. The group set up bogus platforms offering streaming, dating and entertainment services and used fraudulent subscriptions to charge victims, generating illicit proceeds estimated at over €300 million (roughly S$450 million).
Germany's Federal Criminal Police Office reported the suspects exploited four major German payment service providers to launder funds. Authorities did not name the firms but said the scheme hid illegal transfers by making them resemble legitimate consumer purchases.
On the night of November 4, search teams executed coordinated raids across Germany, Luxembourg, Canada, Spain, the Netherlands, Cyprus, Italy, Singapore and the United States. Officials described the action as one of the largest global efforts targeting digital financial crime in recent years.
Authorities called the crackdown an important move against evolving cross-border cybercriminal networks. The probe is ongoing, with further arrests and asset seizures expected as inquiries continue.
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