Overview
European law enforcement, supported by Europol and Eurojust, arrested seven suspects and seized more than 100 servers in a joint action against an unnamed company suspected of supplying fraudulent trading websites to criminal gangs. Europol describes the model as "crime-as-a-service." The company allegedly operated from Cyprus and Israel.
Authorities from Albania, Cyprus, Finland, Germany, Kosovo, and North Macedonia took part. Suspected clients running fraudulent call centers were identified in Albania, Kosovo, and North Macedonia.
Investigation Timeline
- 2022: The probe began after a German couple could not withdraw money invested through an online trading platform.
- 2022 and 2025: Earlier interventions took place. The 2025 action led to two arrests and evidence seizures.
- Now: Investigators identified seven further suspects, including suspected call-center managers, and linked the call-center operators to potential victims in at least 50 countries.
How the Scheme Worked
- Deceptive online ads steer victims to fake investment platforms, which also harvest personal data.
- The stolen data is sold to criminal groups running call centers.
- Call-center operators pitch supposed investments and persuade victims to make a small initial transfer.
- Victims are shown fake accounts with fictitious profits, used to pressure them into larger payments.
- When victims try to withdraw funds, the scammers stall and eventually cut contact.
Context
This follows a string of European actions against investment-fraud networks, including a March 2022 takedown of a call-center network with about 200 "traders" that reportedly stole at least €3 million per month, a May 2024 shutdown of 12 call centers, and a July 2025 Spanish operation against a crypto fraud ring that laundered over €460 million from more than 5,000 victims.
Guidance
- Treat unsolicited investment offers and ad-driven trading platforms with suspicion.
- Be wary of platforms that show rapid "profits" but make withdrawals difficult.
- Verify platforms against financial regulators' warning lists before depositing funds.
- Report suspected fraud to local police and your national fraud-reporting service.