Spanish National Police have dismantled a financing structure used by the Trinitarios gang for defrauding over €700,000.
The organization used hacking tools and business logistics to carry out cyber fraud. Two hackers and 15 members of the gang have been arrested on charges of belonging to a criminal organization, bank fraud, document falsification, identity theft, and money laundering.
The group hacked private banking data in real-time, using software purchased from cyber criminals. They then used this data to impersonate victims’ bank accounts, sending out SMS messages to potential victims, and redirecting them to fraudulent websites that looked like real banking websites. Once the victims were tricked into sharing their login credentials, the hackers would monitor the access in real time and transfer the funds to the Trinitarios’ cryptocurrency wallet.
With the proceeds, the gang paid lawyers’ fees, bought drugs for resale, and funded their battles with rival gangs.
The group also used a network of individuals to receive funds from bank transfers and withdraw the money from ATMs. The group purchased coupons for cryptocurrency that were exchanged for virtual wallets controlled by one of the gang members, who used it as a “common fund” for the organization.
The group also used fraudulent POS terminals under fake company names to access the funds. The police seized a large amount of computer equipment, lock-picking tools, cash, and literature on the structure of the group during the 13 home searches conducted in the provinces of Madrid, Seville, and Guadalajara.
