Spanish Police take down €140 million cyber fraud ring, arrest four

Spanish Police dismantled a cybercrime and money-laundering organization responsible for €140 million in losses through investment fraud and business email compromise (BEC) attacks. The group used over 800 bank accounts and 120 business accounts to launder funds, employing social engineering tactics like CEO fraud and false-invoice fraud. Four suspects were arrested across Spain, Portugal, and Panama, with law enforcement support from Interpol and Europol. The operation disrupted an extensive network involving 67 external accomplices and led to the seizure of digital devices and frozen assets.

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