In a sweeping international law enforcement operation, authorities from across Europe and beyond have dismantled one of the most sophisticated credit card fraud schemes in recent years. Dubbed Operation Chargeback, the coordinated crackdown targeted an expansive cybercrime network responsible for defrauding more than 4.3 million cardholders worldwide and causing an estimated €300 million ($344.7 million) in financial losses.

According to statements from Europol and Eurojust on November 5, the joint effort led to the arrest of 18 suspects, including five high-ranking executives from four German payment service providers allegedly complicit in facilitating the fraudulent transactions. The operation spanned ten countries and uncovered elaborate systems designed to bypass security checks, manipulate subscription models, and launder illicit profits through shell companies and cryptocurrency.

Between 2016 and 2021, the suspects are believed to have created around 19 million fake online subscriptions for services ranging from adult entertainment to dating platforms and video streaming. The fraudulent services charged modest fees-typically around €50 per month-allowing the transactions to blend seamlessly with legitimate online purchases.

Investigators revealed that these low-cost subscriptions were purposefully labeled with vague or misleading merchant descriptions, reducing the likelihood of detection by both consumers........

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