Most of the house searches were carried out in Latvia, where six arrests were made. Another six arrests were made in Britain, four in Spain, and one each in Portugal, Poland, the U.S. and Australia, according to Europol.
The ring QQAAZZ allegedly laundered cybercriminals' stolen funds, transferring them between hundreds of bank accounts held in banks across the world, officials said.
The ring included citizens of Russia, Latvia, Georgia, Bulgaria, Romania, and Belgium, according to the U.S. Justice Department. The ring laundered money stolen from victims in the U.S. and European countries. The suspects face criminal investigations in the U.S., Portugal, Spain and the U.K.
This operation has shown that through this cooperation we can collectively tackle the global nature of cybercrime. This is the only way forward, said Carlos Cabreiro, director of Portugal's National Unit for Fighting Cybercrime.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.