TEN people have been arrested in Spain by the National Police in connection with the alleged scamming of more than 100 companies around the world.
According to the General Directorate of the Police, the arrests were made in Manacor (eight), Toledo (one) and Castellon (one).
The police have stated that 31 criminal acts have been identified.
The two scam methods used by the international are known as ‘Man in the middle’ and ‘CEO fraud’.
The ‘Man in the middle’ scam consists of computer attacks aimed at companies with big revenues, intercepting their communications to divert money from their bank transfers to the organisation’s account.
The criminal organisation allegedly used the ‘CEO fraud’ trick to contact an employee from the targeted company, who had access to the bank accounts, pretending to be the CEO or director and requested an ‘emergency’ financial transaction to be made.
During the police operation, as well as the arrests, 16 of the suspected criminal organisation’s bank accounts were blocked, three vehicles and computer equipment was seized.
The fraudulent scams affected over 100 companies, including victims from Spain, France, Germany, Italy, Mexico and China.
It has been estimated by investigators, who recovered lists of contact data from approximately 500.000, that more than €600.000 has been stolen from Spanish entities.
The criminal group is also suspected of hacking and accessing corporate emails from in excess of 1.000 Spanish businesses.