Authorities across Europe and beyond have taken down three major credit card fraud and money laundering networks responsible for over €300 million ($344 million) in losses.
The global operation, known as “Operation Chargeback,” uncovered a massive scheme that affected more than 4.3 million cardholders across 193 countries.
The joint operation took place on November 4 and involved law enforcement from Germany, the United States, Canada, Singapore, Luxembourg, Cyprus, Spain, Italy, and the Netherlands. It was led by German prosecutors and the Federal Criminal Police Office, with support from Eurojust and Europol.
A total of 44 suspects were targeted, including alleged network operators, intermediaries, and executives at payment service providers. Eighteen people were arrested, among them five executives from four major German financial institutions.
In Germany, investigators carried out 29 raids across eight federal states, seizing assets worth more than €35 million in Germany and Luxembourg. The confiscated items included luxury cars, cryptocurrency, laptops, mobile phones, and other digital devices.
According to Eurojust, the networks defrauded millions of credit card users by processing over 19 million fake online subscriptions on adult, dating, and streaming websites between 2016 and 2021. The fraudulent charges, typically around €50 per month, were designed to go unnoticed by victims due to vague billing descriptions.
Europol revealed that the suspects exploited the systems of four major German payment service providers to move and launder illicit funds. Six individuals, including executives and compliance officers, allegedly colluded with the fraudsters to give them access to payment infrastructure in exchange for financial kickbacks.
The operation also exposed the use of numerous shell companies—mostly registered in the United Kingdom and Cyprus—set up through so-called “crime-as-a-service” providers. These companies helped conceal the fraudulent transactions and minimize the chances of detection.
“Operation Chargeback is a testament to the power of international cooperation in dismantling complex criminal networks,” said Europol’s executive director, Catherine De Bolle. “Through cross-border coordination and data analysis, we’ve managed to stop criminals who were defrauding millions of people worldwide.”
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In a separate but related action this week, European police arrested nine individuals accused of laundering money through a cryptocurrency fraud scheme that siphoned off more than €600 million ($689 million) from victims across the globe.
