All news with #payment fraud tag

Organized fraud ring abused payment providers, stole €300M

🔍 Authorities across three continents executed coordinated raids and arrests in a probe that uncovered an organized fraud network accused of using stolen credit‑card data to create over 19 million fake subscriptions and siphon more than €300 million. Investigators say suspects exploited vulnerabilities at multiple payment service providers, operated hundreds of sham websites offering porn, dating and streaming services, and used small recurring charges with opaque descriptions to avoid detection. The operation, named Operation Chargeback, was halted in 2021 and is the focus of ongoing international legal assistance.