The Guardia Civil has successfully dismantled a criminal organisation responsible for extensive bank fraud operations across Spain. This operation resulted in the arrest of 100 individuals and the investigation of another 151.
Here’s a detailed look into the multi-faceted investigation that spanned 39 provinces and exposed a sophisticated fraud scheme.
Massive fraud network uncovered
After two years of meticulous investigation, the Guardia Civil unravelled a complex network of fraudsters predominantly aged between 18 and 25. Operating in 39 provinces, including Barcelona, Madrid, and Málaga, these criminals impersonated bank representatives to swindle unsuspecting victims. The operation uncovered 323 distinct fraud cases, with Málaga alone reporting financial losses of approximately €1.2 million.
Key arrests and investigations
In Barcelona, the operation led to the arrest of 79 individuals and the investigation of 46 others. Madrid saw 17 arrests with an equal number of ongoing investigations. Other provinces, such as Girona, Málaga, Tarragona, and Lleida, also had significant numbers of suspects under investigation.
Sophisticated fraud techniques
SMS phishing (smishing) and phone scams (vishing)
The fraudsters employed a two-step method to deceive their victims. Initially, they sent SMS messages appearing to be from legitimate banks, directing victims to fake websites that mimicked their bank’s official site. This tactic, known as “smishing,” duped victims into entering their login details.
Following this, the victims received phone calls from numbers spoofed to appear as if they were from their bank. The callers, posing as bank employees, convinced victims to provide verification codes under the pretense of addressing security issues. This technique, known as “vishing,” enabled the fraudsters to make unauthorised transfers and purchases.
Structure and operation
The organisation had a well-defined structure with distinct roles. Some members, referred to as “mules,” were responsible for receiving initial transfers into newly created bank accounts. Others focused on recruiting collaborators, managing commissions, and laundering the stolen money. The funds were often transferred abroad or converted into cryptocurrencies.
Extensive investigation and outcomes
The investigation involved analysing 472 bank accounts and 708 phone lines, many of which were registered with false or stolen identities. The efforts of the Guardia Civil led to the identification of 422 individuals involved at various levels of the organisation. The operation has successfully clarified the majority of reported bank fraud cases, bringing numerous perpetrators to justice.
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