Germany and Brazil Arrest Seven Suspects in €30 Million Banking Theft Investigation
Summary
German and Brazilian authorities arrested seven suspects over a late-2023 scheme that allegedly stole about €30 million from German online banking users using a payment-provider vulnerability and cloned cards.
Key points
- German authorities said three suspects were arrested in Europe; Brazilian authorities said four were arrested in Brazil.
- Authorities said the thefts occurred over four days in November 2023 and involved unauthorized withdrawals from German online banking accounts.
- The BKA attributed the withdrawals to exploitation of a payment-provider vulnerability; Brazilian police said cloned payment cards were used.
- Police said the stolen funds were moved and laundered through Brazil and four European countries.
- Brazilian courts ordered seizure of financial assets, vehicles, and real estate valued at more than $20 million.
- Brazilian police said an unnamed 2024 election candidate used some of the allegedly stolen money in his campaign; they also seized a 3-D printer used to make weapons.
- Authorities did not name the affected bank. Media reports identified it as Commerzbank; the bank previously said customers would not incur losses.
Article Details
- Event Type
- Arrests and international law-enforcement investigation into cyber-enabled banking fraud.
- Impact
- Authorities said unauthorized withdrawals from German online banking accounts over four days in November 2023 caused estimated losses of about €30 million. Police said the proceeds were laundered through Brazil and four European countries. Brazilian authorities reported seizing assets worth more than $20 million. Media reports identified Commerzbank as the affected bank, but police did not specify the bank.
Countries
BrazilThe investigation spanned Europe and Brazil, led to major asset seizures, and also uncovered that one suspect allegedly used illicit funds in a 2024 election campaign.BulgariaThe suspects detained in Europe will be prosecuted in Spain and Bulgaria, the BKA said.GermanyGermany’s federal police agency, the BKA, said three suspects were picked up in Europe and charged with fraud, and Brazil’s federal police said four others were arrested on similar charges there as part of OperaçãoSpainThe suspects detained in Europe will be prosecuted in Spain and Bulgaria, the BKA said.