Overview
- Spanish police arrested 34 suspects linked to Black Axe in raids centered on Seville with additional actions in Madrid, Málaga and Barcelona, targeting the cell’s leadership.
- Investigators attribute about €5.93 million in fraud losses to the group tied to business email compromise and adversary-in-the-middle scams.
- Authorities froze €119,352 in bank accounts and seized €66,403 in cash, five vehicles and electronic devices.
- The network allegedly recruited vulnerable money mules in high‑unemployment areas and used shell companies to obtain cars before defaulting and reselling or renting them.
- Europol and Bavaria’s state criminal police supported the operation with data analysis and on‑site officers, and four alleged leaders remain in custody facing charges including aggravated fraud and money laundering.