Spanish police pull plug on €4m financial hacking scam group

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HACKING SCAM: Arrests made. File image. Photo credit: Shutterstock


SPANISH police have arrested 16 alleged members of a computer hacking group.

Members of the National Police claimed the group had made nearly €4 million in a plot which took place in Tarragona, Malaga, Sevilla, Cuenca and Cadiz.

The suspects have been arrested in connection with organised crime, fraud, and money laundering, and allegedly circulated money between 127 bank accounts.  The group are accused of hacking emails from financial institutions before transferring funds to 39 fictional companies. 

Police began investigating following a complaint by a Luxembourg company which allegedly lost €650,000.  Further inquiries allegedly revealed a Venezuelan and an American company had also been scammed.  The plot reportedly saw the group carry out 36 scams in companies in Norway, the United Kingdom, Austria, Bermuda, Germany and India.

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