Cybercrime Zapadni Balkan Newsletter No. 61

International Operation Dismantles Multi-Million Euro Investment Scam
Over 100 Victims Defrauded via Fake Online Trading Platform

Dear Clients,

Europol announced on May 13, 2025, a successful international operation that dismantled an organized criminal network responsible for defrauding more than 100 victims of over 3 million euros through a fake online investment and trading platform.

This criminal network lured victims with promises of high returns, using fake charts and agents who pressured victims into investing increasingly larger sums. The money victims deposited was never invested in real ventures but was pocketed by the scammers.

The investigation, initiated by German authorities following a report by a married couple who fell victim, led to the arrest of suspects in Belgium and Latvia during the first action day on September 6, 2022. Further investigations identified other members, including managers of call centers used to deceive victims.

A second coordinated operation was conducted on May 13, 2025, involving searches in Albania, Cyprus, and Israel. During these operations, authorities seized electronic devices, documents, and cash. One suspect was arrested in Cyprus and is expected to be extradited to Germany.

Eurojust facilitated judicial cooperation across borders, while Europol provided operational support, including a virtual command post for real-time information exchange.

Why is this operation important?

This international crackdown demonstrates that authorities recognize the seriousness of digital investment scams and are ready to respond swiftly and effectively. Modern scams are increasingly sophisticated and often cross borders, requiring coordinated international cooperation. The success of this investigation and arrests sends a clear message to scammers that such crimes will not be tolerated and offers hope to victims that justice can be achieved.

As your legal representatives, we monitor such developments closely and continue fighting for the interests of our clients, confident that institutions have the capacity and will to combat this form of crime.

Kind Regards,

Your DefendMe Team