site.btaBank Fraud Ring Busted

Eleven participants in a bank fraud scheme were arrested in an operation conducted by officers of the General Directorate for Combating Organized Crime on June 4, the Interior Ministry said Thursday. The operation was conducted in Sofia, Varna, Kazanlak and Samokov and the villages of Zheleznitsa and Medkovets under the supervision of the Sofia City Prosecution Office.

Two hackers, money mule recruiters and mules were arrested for accessing bank accounts of 12 Bulgarian individuals and companies through e-banking between April and August 2023. The scheme involved transfers to bank accounts or cryptocurrency accounts. Some of the accounts were opened in the names of those arrested. Some BGN 800,000 was transferred and withdrawn immediately, according to early investigation findings.

Eighteen addresses and six vehicles were searched. Mobile phones, computers, flash drives and documents were seized and witnesses were questioned.

All 11 persons were charged. Three were detained for up to 72 hours, seven were released on bail ranging between BGN 5,000 and BGN 10,000, and one was released on his on recognizance. Pre-trial proceedings are under way.