German authorities announced 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 losses totaling hundreds of millions of euros. Several individuals were arrested, and searches were conducted in various countries including Italy, Canada, Luxembourg, the Netherlands, Singapore, Spain, the U.S., and Cyprus, as revealed by the Federal Criminal Police Office (BKA).
The accused individuals allegedly used stolen credit card information from victims spanning 193 nations. The BKA disclosed suspicions that the perpetrators compromised four leading German payment service providers to facilitate illicit transactions. Estimated damages are said to be in the hundreds of millions of euros.
Further information on the case is expected to be unveiled during a press briefing scheduled for Wednesday.