Seven individuals have been arrested as part of a Europol
investigation into money laundering and online fraud, CyprusMail reported.
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The European Union Agency for Criminal Justice Cooperation
said the group is alleged to have generated nearly €1 billion in turnover over
the past five years, mainly through call centres in Limassol, Cyprus.
French Pensioners Hit by Fraud Scheme
Last week, Cypriot, French, and Belgian police carried out
raids in Limassol. Cypriot associates have been called in for questioning, and
arrest warrants were issued by the Limassol district court. Investigations are
ongoing.
Sources said the probe focuses on online fraud and money
laundering targeting French nationals. Call centres contacted individuals
across Europe, promising high investment returns. Victims, including many
pensioners, were persuaded to deposit funds. Once money was received, the
fraudsters allegedly disappeared, websites were shut down, addresses changed,
and new targets were sought.
Authorities in France received numerous complaints. French
lawyers and police visited Cyprus to assist in building the case.
This article was written by Tareq Sikder at www.financemagnates.com.
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