€1 million online fraud scheme uncovered, three suspects arrested

A criminal group suspected of running an online fraud scheme in Germany, which defrauded victims of around €1 million, has been dismantled through judicial cooperation coordinated by Eurojust.

On 10 March, German and French authorities arrested three suspects in a joint operation. The main suspect, located in France, appeared before a judge after an arrest warrant was issued and remains in custody while a French court decides whether he will be transferred to Germany.

During searches in both countries, authorities seized assets including cryptocurrencies and jewellery.

According to the investigation, the criminal group allegedly used phishing emails to obtain victims’ online banking and mobile phone login credentials. They were then able to bypass additional verification steps required to transfer and withdraw funds from the victims’ accounts. The stolen money was subsequently moved to fake cryptocurrency accounts to further conceal its origin.

“Extensive evidence that was collected during the action day will now be further analysed as investigations into the online fraud scheme continue,” Eurojust said in the announcment.

This operation is the latest in a series of actions Eurojust has carried out with other countries to combat online fraud.