German authorities announced on Tuesday that they had carried out a synchronized operation targeting suspected fraud and money laundering networks that compromised German payment service providers, resulting in damages amounting to hundreds of millions of euros. The operation led to the arrest of several individuals and the execution of searches in various countries including Italy, Canada, Luxembourg, the Netherlands, Singapore, Spain, the U.S., and Cyprus, as reported by the Federal Criminal Police Office (BKA).
According to the BKA, the suspects are alleged to have utilized credit card information from victims in 193 countries. Additionally, there are suspicions that the defendants infiltrated four major German payment service providers to facilitate transactions. The total damages are estimated to be in the hundreds of millions of euros.
Further information regarding the case is expected to be disclosed during a press conference scheduled for Wednesday.