The Spanish authorities arrested five members of an international scam ring which stole up to $ 540 million. Operation Borrelli has targeted a dark group with victims in 30 different countries.
Police did not provide many key details on the group, such as the way they have defrauded their victims. For the moment, it is not clear if members remain in freedom or not.
Broken Cryptography Square Ring
Cryptographic scams are part of this industry, but they are particularly widespread at the moment. The rings of organized crime work worldwide, some even receiving state support.
However, the authorities retaliate, just as the Spanish police did to dismantle a cryptographic scam which stole up to $ 540 million:
“The leaders of the organization would have used a network of sellers spread around the world to collect funds through cash withdrawals, banking transfer and crypto transfers. The criminal organization would have established an international network of companies and bank … to receive, store and transfer criminal funds, “local authorities said in a press release.
The Guardia Civil said that this group had defrained up to 5,000 victims in 30 countries, using a company based in Hong Kong to coordinate fraud and money laundering worldwide.
Spanish citizens only represented a tenth victims of scams and $ 45 million in losses. However, many gang members lived in the country and the police arrested a large strip.
Ministry of the Interior
According to local reports, the Spanish authorities arrested five members of this scam group during raids across Madrid and the Canary Islands.
The investigation involved cooperation with Europol and 15 distinct nations, most of which were not EU members. This shows the international scope of group operations.
There are several recent examples of international cooperation in the fight against cryptographic scams, but it is always a difficult battle. Although the Spanish police qualified the scam ring as “dismantled”, he said that the investigation is still open.
Currently, it is not clear how many members remain active in the world, especially because it employed cutting companies in several countries. Could five people in a nation do this alone?
In the recent French kidnapping chain, Morocco’s brains have ordered local agents to make violent assaults. These attacks continued despite the arrests of leaders abroad.
Spanish police could anticipate future scams, leading to a lack of relevant details. However, it is difficult to say with certainty. There is no evidence accessible to the public of the real size of the Spanish group.
Unfortunately, the announcement was light on the details, but it nevertheless contained precious information. If nothing else, the international community adopts a proactive approach to the fight against crime.
More details will likely emerge during legal proceedings.
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