German authorities reported on Tuesday that they had carried out a coordinated global operation targeting suspected fraud and money laundering networks that exploited German payment service providers, resulting in damages totaling hundreds of millions of euros. The Federal Criminal Police Office (BKA) disclosed that multiple individuals were arrested, and searches were conducted in various countries including Italy, Canada, Luxembourg, the Netherlands, Singapore, Spain, the U.S., and Cyprus.
According to the BKA, the suspects allegedly utilized stolen credit card information from victims in 193 countries. Additionally, there are allegations that the accused breached the security of four major German payment service providers to facilitate illicit transactions. The total estimated damages are said to be in the tens of millions of euros.
Further details regarding the operation are anticipated to be revealed during a press conference scheduled for Wednesday.