Europol Arrests Over 100 Fraudsters Linked To Italian Mafia; Minted 10 Million Euros In Last Year

NEW DELHI: In collaboration with Europol and Eurojust, Italian and Spanish law enforcement agencies disbanded an organized crime group affiliated with the Italian mafia, which has been involved in online fraud, money laundering, drug trafficking and property crimes.

The group has generated approximately 10 million euros (11.7 million US dollars in illegal income) only in one year.

“The suspects defrauded hundreds of victims through phishing attacks and other types of online fraud such as SIM swapping and business email compromise before laundering the money through a wide network of money mules and shell companies,” the Europol statement said in a statement.

The law enforcement officers involved in the investigation arrested 106 people (mostly in Spain and some in Italy), participated in 16 house searches, and assisted in freezing 118 bank accounts controlled by the cybercriminal group.

The investigation also resulted in the seizure of many electronic devices, 224 credit cards, point-of-sale terminals and SIM cards, a cannabis plantation, and equipment needed for cultivation and distribution.

 This criminal network is organized according to a pyramid structure, and its members have various specialized criminal fields and roles.

Some members of cybercrime gangs are computer experts who are responsible for establishing and managing phishing infrastructure, as well as coordinating and executing online fraud.

 Other members specialize in recruiting and organizing money mules, while many other members are money laundering and cryptocurrency experts.

Europol facilitated the information exchange, the operational coordination and provided analytical support for this investigation, which lasted over a year. During the operational activities, Europol deployed two analysts and one forensic expert to Tenerife, Spain and one analyst to Italy.