Spanish Police Dismantle €140 Million Cyber Fraud and Money-Laundering Network

Spanish National Police, working with international partners, dismantled a cybercrime organization accused of stealing and laundering about €140 million through fake investment platforms, business email compromise (BEC), CEO fraud, invoice fraud, and man-in-the-middle attacks. Investigators said the group operated an industrial-scale laundering network tied to more than 800 bank accounts, 120 business accounts, 19 companies, and 67 money mules, with confirmed links to over €94 million in transactions and another €61 million connected to 2024 CEO fraud activity.

Authorities arrested four suspects in Spain, Portugal, and Panama during an operation supported by Europol and Interpol. Raids in Spain and Portugal led to the seizure of computers, smartphones, and other digital devices allegedly used in the schemes, while police froze €3 million in criminal proceeds for potential victim restitution. Officials said the network’s main operators were taken into custody and the laundering infrastructure was effectively dismantled, though the investigation into its wider international links remains ongoing.