More than 100 servers have been seized and seven suspects arrested in an international crackdown on an investment fraud scheme with potential victims in at least 50 countries.
Authorities in Albania, Cyprus, Finland, Germany, Israel, Kosovo and North Macedonia took part in coordinated action on 3 November, supported by Europol and the EU’s judicial co-operation agency Eurojust, Europol informed on Tuesday.
The operation was led by the Itzehoe Public Prosecutor’s Office in Germany and targeted a company suspected of supplying fraudulent online trading websites to criminal groups.
The company was linked to call centre operators who allegedly pressured victims into handing over their savings, with estimated losses exceeding €4 million.
Police searched 17 locations and seized servers, other evidence and assets.
Seven suspects were arrested with a view to extradition to Germany.
How the alleged scam worked
The scheme promised quick, substantial returns from trading in cryptocurrencies, foreign currencies or shares, Europol said.
Victims were encouraged to invest a small initial amount, then shown fictitious profits in online accounts designed to make the platform appear credible.
The supposed brokers then pushed for larger transfers, and when victims tried to withdraw funds they faced delays before contact eventually stopped.
Investigators also described the use of affiliate marketing — a system where online adverts and referrals are used to drive traffic — to direct people to fraudulent platforms.
Personal data collected through these adverts was then sold to criminal groups running call centres, which contacted people with supposed investment opportunities.
The investigation began in 2022 after a German couple reported being unable to withdraw money invested through an online trading platform.
Earlier action days in 2022 and 2025 led to arrests and seizures, while analysis of material recovered helped identify the suspected infrastructure provider and additional suspects.
