Police arrested 23 suspects in Romania, the Netherlands and Ireland in August 2021 over an alleged business email compromise and advance-payment fraud scheme. Europol estimated that companies in 20 countries lost at least $1.2 million, according to CyberScoop’s August 11, 2021 report. The figure was an estimate—not a court-established loss total—and the report does not establish whether any suspects were later convicted.
What happened in the 2021 operation?
CyberScoop reported that authorities searched 34 locations and made 23 arrests in a coordinated operation on the Monday before the article’s August 11, 2021 publication. The investigation targeted suspects in an alleged scheme involving business email compromise (BEC) and advance-payment fraud.
Europol’s Cyber Crime Centre supported the investigation, alongside national police forces in Romania (Poliția Română), the Netherlands and Ireland (An Garda Síochána). CyberScoop said Europol had supported the case since 2017.
How did the alleged email and advance-payment fraud work?
According to CyberScoop’s account of Europol’s announcement, the suspects allegedly used compromised email accounts and communications designed to resemble those of legitimate companies. They purportedly persuaded businesses to order goods that were not genuine, routed financial data through Romanian bank accounts, and withdrew money from ATMs.
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The alleged offers changed over time. The group reportedly offered fictitious goods online, including wooden pellets, before shifting after the pandemic outbreak to offers of COVID-19 protective materials. These were described as fraudulent offers, not legitimate product listings.
What does the $1.2 million figure mean?
Europol’s estimate, as reported by CyberScoop, was at least $1.2 million in alleged losses affecting companies in 20 countries, mainly in Europe and Asia. The report gives no country-by-country breakdown, and the amount should not be read as a final figure established in court.
CyberScoop also cited nearly $1.8 billion in known losses reported to the FBI’s Internet Crime Complaint Center for the prior year. That was a broad figure about reports to the FBI’s center, not a loss estimate for this case or for Europe.
What is business email compromise?
Business email compromise is a type of fraud in which criminals exploit or impersonate business email accounts to deceive an organization into sending money or sharing sensitive information. In the alleged scheme described here, compromised accounts and lookalike company communications helped make advance payment requests appear credible.
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Europol’s 2020 threat report was quoted by CyberScoop as saying, “Business Email Compromise (BEC) continues to increase.” That general assessment was not a finding specific to these suspects or this case.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Were the suspects convicted, and were the funds recovered?
CyberScoop’s report establishes arrests and searches, not subsequent charges, convictions, acquittals or recovery of funds. An arrest is not proof of guilt; the people involved were suspects at the time of the operation. The accessible report does not provide later court outcomes or say whether any money was returned.
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