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International Probe Busts Investment Fraud Ring Operating from Israel and Cyprus
An international investigation led by Europol and Eurojust has dismantled an investment fraud network that allegedly operated from Israel and Cyprus, supplying technology to criminal groups. Seven suspects were arrested and face extradition to Germany, with estimated damages exceeding four million euros.
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What happened
- 01Seven suspects arrested in an international operation targeting an investment fraud network operating from Israel and Cyprus.
- 02The network allegedly provided "Crime as a Service" infrastructure to criminal organizations, defrauding victims in over 50 countries.
- 03Estimated financial damages to victims of the fraud scheme exceed four million euros.
- 04The investigation was led by Germany, with participation from Israel's Cyber Unit and other European law enforcement agencies.
- 05Suspects are to be extradited to Germany, where the main investigation is ongoing.
- 06The operation involved 17 raids and the seizure of over 100 servers used in the fraud.
The network used fake trading platforms and call centers to defraud investors in over 50 countries.
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