Crime as a Service: 7 Arrested in Raid on International Fraud Network Operating from Israel and Cyprus
Seven suspects were arrested in an international raid on an investment fraud network operating from Israel and Cyprus. The operation, involving Lahav 433, seized more than 100 servers. The damage: over four million euros.
In a large-scale international operation, seven suspects were arrested on suspicion of running an investment fraud network operating from Israel and Cyprus. The network provided technological infrastructure to organized crime groups in Europe for defrauding investors, in a model known as 'Crime as a Service'. The operation, led by German prosecutors and involving Lahav 433, seized more than 100 servers and shut down fake websites. The fraud method was based on building gradual trust: victims were invited to invest small sums, saw fictitious profits, and were then pressured to transfer larger amounts. The financial damage is estimated at over four million euros, and the activity had potential victims in more than 50 countries. The investigation began following a complaint from a German couple who lost their savings.