An organised criminal group (OCG) operating globally has defrauded more than 100 victims of over EUR 3 million through a fake online investment platform. Cooperation between German, Cypriot, Albanian, British and Israeli investigators, supported by Eurojust and Europol, led to the dismantling of the criminal group and the arrest of a suspect in Cyprus.
Using the method of cyber trading, the group was able to make considerable profits and defraud victims of their substantial savings. The criminals created a fake online trading platform that promised large profits in a short period of time. After initially transferring modest sums of money to the platform, victims are then persuaded by fake charts that they will make large profits. Using psychological pressure, fake brokers call their victims to convince them to transfer higher amounts to the platform. The money transferred by the victims is never invested and instead goes directly to the criminal group. Authorities are aware of approximately 100 victims, but they believe more people have fallen victim to the OCG.
German authorities started investigating the fake platform after a married couple reported the scam to the police. The initial investigation focused on the holder of the bank account to which the couple had transferred their savings. The authorities soon uncovered an international criminal group behind the fake investment platform. On 6 September 2022, during the first action day in this investigation, authorities searched multiple locations in Belgium and Latvia, arrested two suspects and seized important evidence. This evidence was instrumental in identifying seven more members of the criminal group, including the managers of the call centres used to convince victims to invest more money.
The second action day took place on 13 May 2025. A total of eight searches took place simultaneously in Albania, Cyprus and Israel and executed six interrogations. During the searches, authorities seized evidence to continue the investigation such as electronic devices and documents as well as cash. A suspect in Cyprus was arrested with the intention of either surrendering or extraditing them to Germany. Investigations into the investment fraud will continue.
As victims were identified across the world and the group operated globally, international cooperation was essential. Eurojust ensured that judicial authorities worked together smoothly and efficiently from the start of the investigation in 2022. For the second phase of the investigation, Eurojust facilitated all judicial cooperation requests and coordinated the action day from its headquarters in The Hague. Europol provided operational support throughout the investigation, deploying mobile offices in Israel, Albania and the United Kingdom. A virtual command post was also set up by Europol to facilitate real-time coordination and intelligence sharing.
The following authorities carried out the operations:
- Germany: Public Prosecutor’s Office at the Itzehoe Regional Court, Department for Combating Cybercrime; District Criminal Investigation Office Kiel
- Cyprus: Attorney General’s Office; Cyprus Police; Unit for Combating Money Laundering (MOKAS)
- Albania: Special Prosecution Office against Corruption and Organised Crime
- United Kingdom: National Crime Agency
- Israel: Israeli Police – National Cybercrime Unit, LAHAV 433 together with the Coordination and Operational Division in the Intelligence Branch
This operation was carried out as part of the European Multidisciplinary Platform Against Criminal Threats (EMPACT).
EMPACT tackles the most important threats posed by organised and serious international crime affecting the European Union. EMPACT strengthens intelligence and strategic and operational cooperation between national authorities, EU institutions and bodies, and international partners. EMPACT runs in four-year cycles focusing on common EU crime priorities. Fraud, economic and financial crimes are among the priorities for the 2022-2025 Policy Cycle.