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{"id":7761,"date":"2023-04-13T21:30:26","date_gmt":"2023-04-13T21:30:26","guid":{"rendered":"https:\/\/www.thecybersecuritytimes.com\/?p=7761"},"modified":"2023-04-13T21:30:28","modified_gmt":"2023-04-13T21:30:28","slug":"europol-arrests-five-individuals-involved-in-online-investment-fraud-ring","status":"publish","type":"post","link":"https:\/\/www.thecybersecuritytimes.com\/europol-arrests-five-individuals-involved-in-online-investment-fraud-ring\/","title":{"rendered":"Europol Arrests Five Individuals Involved in Online Investment Fraud Ring"},"content":{"rendered":"\nEuropol and Eurojust have announced the arrest of five individuals in connection to a massive online investment fraud ring. <\/p>\n\n\n\n
The fraud scheme allegedly ran between 2019 and 2021 and had at least 33,000 victims who lost an estimated \u20ac89 million.<\/p>\n\n\n\n
The Fraudulent Operation<\/strong><\/h2>\n\n\n\nThe fraudulent operation lured investors through web and social media banner ads, promising big profits. The victims were then contacted by personal financial advisors who promised even higher profits on bigger investments. <\/p>\n\n\n\n
The scam involved tricking their targets into committing small amounts of up to \u20ac250 as initial investments.<\/p>\n\n\n\n