- Title: Multi-million euro credit card scam shut down by joint Spanish-U.S. operation
- Date: 3rd February 2021
- Summary: MADRID, SPAIN (FEBRUARY 3, 2021) (REUTERS) RESIDENT AGENT IN CHARGE OF U.S. SECRET SERVICE IN SPAIN, MATTHEW CYBERT, AT JOINT SPANISH-U.S. NEWS CONFERENCE (SOUNDBITE) (English) RESIDENT AGENT IN CHARGE OF U.S. SECRET SERVICE IN SPAIN, MATTHEW CYBERT, SAYING: "This case is a fine example, I can think of no other, of the importance of partnerships between law enforcement agencies, the secret service and our relationship with the Spanish national police, in my opinion, a premier law enforcement agency that has been exemplary." CYBERT DURING PRESS CONFERENCE (SOUNDBITE) (English) RESIDENT AGENT IN CHARGE OF U.S. SECRET SERVICE IN SPAIN, MATTHEW CYBERT, SAYING: "When the first arrest operation commenced, at the request of the Spanish national police department, the secret service provided personnel that came to Spain to participate in that operation."
- Embargoed: 17th February 2021 14:01
- Keywords: EEUU Spain U.S. fraud bank credit cards police police operation secret service
- Location: MADRID AND UKNOWN LOCATIONS, SPAIN
- City: MADRID AND UKNOWN LOCATIONS, SPAIN
- Country: Spain
- Topics: Crime/Law/Justice,Crime,Europe
- Reuters ID: LVA002DY3BM87
- Aspect Ratio: 16:9
- Story Text: Spanish police working with the U.S. Secret Service have shut down a criminal network that pocketed more than 12 million euros ($14.41 million) via a credit card fraud that extended across more than 15 countries, authorities said on Wednesday (February 3).
More than 100 alleged members of the network were arrested in a trans-Atlantic operation, a Spanish National Police statement said.
Police video footage published on Wednesday showed police officers detaining suspects amid piles of cash, jewelry and cars.
It said the fraudsters took advantage of a legal loophole that allows U.S. credit card holders to make purchases in Europe with no funds, while banks on both continents settle the transactions.
Even though the transactions were eventually rejected, the vendors - in this case mainly complicit hotels, bars and restaurants - kept the money.
They would then transfer the funds back to the ring, which was headquartered in a hotel in the small western Spanish town of Miajadas, keeping a slice for themselves as a commission, the police statement said.
Overall the network spanned more than three U.S. states and 15 European countries, including Spain, Greece, Austria, Britain, Denmark, Ukraine and Germany, it said.
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