Millions stolen from bank customers: Investigators break up network

An international criminal network suspected of defrauding bank customers of millions of euros has been dismantled by German and Brazilian authorities. Following a multi-year investigation, the Federal Criminal Police Office (BKA) and the General Public Prosecutor's Office Frankfurt announced the successful operation, which involved collaboration with Brazilian authorities.

The investigation identified three suspects in Europe who are accused of computer fraud in online banking. These individuals are expected to face legal proceedings in Spain and Bulgaria. Concurrently, a large-scale operation in Brazil, supported by the BKA, led to the arrest of four alleged members of the network and the search of 21 properties across seven cities.

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The scale of the damage is in the millions.

Authorities allege that the fraudsters exploited a flaw in the booking process of a payment service provider, which arose from a faulty software update in November 2023. Within a few days, they reportedly executed numerous unauthorized transactions from the accounts of German online banking users, resulting in losses in the millions of euros. The perpetrators primarily funneled the stolen funds to Brazil, where a significant portion was withdrawn despite attempts at concealment.

A smaller portion of the illicit gains was also handled in four European countries. While specific details regarding the affected banks and the number of users in Germany were not disclosed, the findings from Brazil are expected to be integrated into the ongoing German investigation. Senior Public Prosecutor Benjamin Krause, who heads the Central Office for the Fight against Internet Crime (ZIT) at the General Public Prosecutor's Office Frankfurt, emphasized that this success serves as a warning to cybercriminals, indicating they cannot operate with impunity.

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Cybercrime perpetrators cannot feel safe.