Authorities in Belgium and the Netherlands have arrested eight people suspected of involvement in a “phone phishing” ring that operated primarily from the Netherlands to steal victims’ financial data and funds.
As part of the international operation, law enforcement agencies conducted 17 searches in various places in Belgium and the Netherlands, Europol reports. In addition, large amounts of cash, firearms, as well as electronic devices, high-end watches and jewelry were seized.
“In addition to conducting large-scale phishing campaigns and attempting to access financial data over the phone or online, the suspects also posed as police or bank employees and approached elderly victims at their doors,” the agency reported. said.
The cybercrime operation involved sending phishing messages via email, SMS and WhatsApp urging recipients to click on a link that captured credentials and other information.
In other cases, victims were approached by criminals who claimed to be calling from their bank on the pretext of detecting fraud on their accounts, which could help them resolve the issue. The Vishing operation was powered by a network of call centers that were set up in high-end apartment towers and Airbnb homes.
The stolen money, according to Europol, was used to book luxury holidays in Spain and buy expensive watches, jewellery, shoes and designer clothes from brands such as Dior, Louis Vuitton and Rolex.
Victims are believed to have been spread across at least 10 different countries, and the scheme netted the group millions of dollars in illegal profits through phishing and bank help desk fraud.
The action follows an investigation that was launched by Belgian authorities in 2022 and then by Dutch police the following year after it emerged that the organization was run from Rotterdam.
Politie said the four suspects arrested in the Netherlands, three men and a woman aged between 23 and 66, were from Zaltbommel, Almere, Amersfoort and Rotterdam. He also noted that a fifth person was arrested in Belgium on an international arrest warrant.
“While the victims were left to suffer, they spent all the victims’ money partying in expensive clubs, wearing designer clothes and expensive watches,” Jan van der Linden, who heads the Rotterdam police’s cybercrime team. said. “And as if that wasn’t bad enough, they also loved sharing their luxurious extravaganzas on social media.”
