European law enforcement agencies have dismantled a large digital fraud network operating in Latvia. The group is reported to have defrauded thousands of people, causing financial losses estimated at no less than €5 million.
According to official information, the Latvian police, in cooperation with Estonia, Austria, Europol, and Eurojust, conducted a joint operation named “SIMcartel.” The investigation revealed that the fraudsters used a special SIMbox platform to illegally manage thousands of SIM cards, allowing them to hide user identities and create fake online accounts.
Investigators found that this system enabled the creation of nearly 50 million online accounts, which were used to carry out banking and investment fraud schemes, as well as other financial crimes across multiple countries.
According to Europol, more than 3,200 individuals have been identified as victims. The majority of the financial damage—approximately €4.5 million—was reported in Austria, while Latvia accounted for losses of around €420,000.
Further investigation suggests that the “SIMcartel” group was not limited to online fraud but was also linked to illegal migration and extortion crimes.
Currently, seven suspects have been arrested, most of whom are Latvian citizens. Their communication networks and computer equipment are under forensic examination. Europol plans to expand the investigation and trace the group’s operations across other European countries.
Experts describe this case as “one of the largest digital fraud operations in Europe in recent years.” Investigators warn that the group’s actions pose not only financial risks but also serious threats to cybersecurity.
According to Europol, the operation is ongoing, with efforts underway to identify new suspects. European nations have once again recognized the urgent need to strengthen digital security.
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