German authorities announced on Tuesday that they had carried out a coordinated global operation targeting suspected fraud and money laundering networks that exploited German payment service providers, resulting in damages reaching hundreds of millions of euros. The operation led to the arrest of several individuals and the execution of searches in multiple countries including Italy, Canada, Luxembourg, the Netherlands, Singapore, Spain, the United States, and Cyprus, as reported by the Federal Criminal Police Office (Bundeskriminalamt, or BKA).
According to the authorities, the suspects are alleged to have utilized credit card information from victims spanning 193 countries. The BKA stated that there are suspicions that the accused individuals infiltrated four major German payment service providers to facilitate illicit transactions. The total damages incurred are estimated to be in the mid-hundreds of millions of euros.
Further information regarding the operation is expected to be provided during a press conference scheduled for Wednesday.
