Italy and Romania take down cyber fraud ring generating €20 million per year in criminal profits

7 iulie 2020

The criminal group was using a large network of money mules in Italy to launder their criminal profits from a variety of cybercrime activities.

The Italian National Postal and Communication Police Unit and the Romanian National Police, supported by Europol and Eurojust, dismantled an organised criminal group involved in financial fraud, cybercrime and money laundering. 

On 7 July, Italian and Romanian law enforcement authorities carried out 12 house searches and arrested 12 individuals (8 in Italy and 4 in Romania). „The operation led to the seizures of personal computers, credit cards, properties, vehicles and other assets with an overall estimated value of over €1.5 million,” according to the press release

The criminal organisation was using a wide network of money mules in Italy, created to launder criminal proceeds from a variety of cybercrime activities. The criminal group was involved in financial frauds and cyber scams such as rental fraud (fraud through the advertisement of non-existent properties to rent) and CEO fraud (impersonating a company official to trigger large transfers to bogus accounts).

With these frauds, the criminals were deceiving victims across Europe into making wire transfers to Italian bank accounts, owned by the money mules. It is estimated that the criminal group has generated up to €20 million losses per year for victims across Europe.

DIICOT press release on the same topic

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale in 2020?