Jewelry, cash, fake passports and more were seized by police in Europe and Asia during a massive operation against an organized criminal group responsible for producing and using counterfeit credit cards for purchasing high value goods, according to a Europol press release.
During the operation some 105 suspects were arrested, including 29 in Malaysia and 76 in Europe, while 2 illegal production sites of high quality credit cards were dismantled.
High quality counterfeit credit cards were manufactured in different locations and subsequently used by individuals to purchase high value goods, mainly at electronic stores and duty-free shops at airports, causing losses estimated at EUR5 million, explains Europol. According to the investigation, the organized crime group purchased mainly jewelry and expensive watches at European airports.
“The majority of the payment card fraud crimes have an international dimension, taking into account the origins of suspects, places where cards were obtained and illegal transactions made. Only through a coordinated approach at the global level between industry and law enforcement can we successfully track down the criminal networks behind such large-scale frauds and bring them to justice,” says Europol Deputy Director Operations Wil van Gemert.
