Police in Romania and Spain have successfully dismantled a sophisticated cyber-fraud gang that operated internationally, targeting victims with fake ads and business email compromise (BEC) scams. The operation involved 22 house searches in Romania, resulting in the seizure of significant amounts of cash, electronic devices, and other items. Although the gang was primarily located in Sibiu and Vâlcea, Romania, it had operations in Spain as well.
Europol estimates that the gang has defrauded victims out of millions of euros through deceptive advertisements for holiday rentals, second-hand cars, and electronic devices. Victims would pay anywhere from €200 to €10,000 for goods or services that were never delivered. The criminal operation was highly organized, with distinct groups responsible for coordinating operations, posting fake ads, and laundering profits.
In addition to fake ads, the gang also engaged in BEC scams, intercepting victims’ emails and tricking them into transferring funds to accounts under their control. BEC scams ranked as the second-highest grossing cybercrime type in 2023, according to FBI data, highlighting the significant financial impact of such schemes. Europol emphasized the unprecedented sophistication of the group, indicating the need for a comprehensive investigation to dismantle their operations.
