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The Spanish National Police Corps arrest 11 cybercriminals for CEO scam

05/11/2020

The Spanish National Police Corps have arrested 11 alleged cybercriminals who have defrauded more than €2,400,000 from companies and individuals from various countries. The crimes attributed to them are fraud, money laundering and membership in a criminal organization.

More than 150 bank accounts have been detected that would have been used to defraud companies located in the Czech Republic, the United States, Italy, Lebanon, China, the Netherlands or Kazakhstan. The modus operandi to commit their frauds included the use of new technologies using social engineering methods, specifically phishing techniques and the so-called CEO scam.