Global Police Bust $345M Credit Card Fraud and Laundering Ring

In a major international operation dubbed “Operation Chargeback,” authorities have arrested 18 suspects linked to a vast credit card fraud and money laundering network that siphoned $345 million through fake online subscriptions. German cybercrime prosecutors led the coordinated effort across multiple countries, targeting 44 suspects and conducting over 60 raids that yielded key evidence, including storage devices, documents, and communication records.

The criminal groups allegedly misused payment data from over 4.3 million cardholders across 193 nations, creating about 19 million fake subscriptions for adult content, dating, and streaming platforms. Investigators found that the fraudsters intentionally kept subscription amounts low—typically below $60 per month—to avoid detection, while using shell companies in the U.K. and Cyprus to disguise the fraudulent flows and minimize chargebacks.

Authorities revealed that insiders within four payment processors, including executives and compliance officers, facilitated the laundering by routing illicit funds through legitimate financial infrastructure in exchange for kickbacks. Eurojust confirmed that five suspects were arrested in Germany, with $40 million in assets seized in Germany and Luxembourg. The investigation also uncovered the use of cybercrime-as-a-service providers, which offered complete fake corporate structures with counterfeit KYC documents to support the scam.

According to Europol, which has been supporting the case since May 2023, the websites used by the fraudsters were designed to remain hidden from search engines and accessible only through direct links. The German Financial Intelligence Unit (FIU) played a pivotal role by tracing illicit money flows, applying the “follow-the-money” principle to expose the web of shell companies and payments.

Birgit Rodolphe of Germany’s BaFin said the coordinated crackdown has “completely stopped” the fraudulent activities since 2021. Catherine De Bolle, Europol’s executive director, called the case “a testament to the power of international cooperation” and emphasized the success of cross-border intelligence sharing.

The suspects now face charges of organized computer fraud, money laundering, and criminal conspiracy. Authorities are continuing to analyze seized evidence, with further arrests expected as Operation Chargeback unfolds globally