Spanish police, in coordination with Peruvian authorities, have dismantled a large-scale voice phishing scam that defrauded over 10,000 bank customers of more than €3 million. The operation led to 83 arrests, including the scam’s leader, and disrupted a sophisticated network operating across Spain and Peru.

In a series of 29 simultaneous raids, authorities arrested 35 people in Spain, including in cities like Madrid, Barcelona, Mallorca, Salamanca, and Vigo. Another 48 arrests were made in Peru, where the criminals managed three call centers employing 50 operators to execute the voice phishing scam. The raids also resulted in the seizure of cash, mobile phones, computers, and other incriminating evidence.

The leader of the voice phishing scam was apprehended in Spain, marking a significant victory in combating cybercrime.

How the Voice Phishing Scam Operated

The criminals used stolen databases, caller spoofing technology, and pre-written social engineering scripts to impersonate legitimate banks. Victims were alerted about supposed unauthorized ATM withdrawals and were pressured into verifying their accounts through fraudulent processes.

Operators guided victims to share sensitive details like one-time passcodes, which were relayed in real-time to accomplices stationed near bank branches in Spain. These accomplices would withdraw cash instantly, keeping 20–30% for themselves and sending the rest to the organization in Peru.

To further evade detection, the scammers used color-coded identifiers for different banks and spread their operatives across multiple cities.

Protect Yourself from Voice Phishing Scams

Authorities are warning the public to remain vigilant. To avoid falling victim to a voice phishing scam, remember:

• Banks will never ask for personal details such as passwords, card numbers, or one-time passcodes over the phone.
• Verify any suspicious calls by contacting your bank directly through their official customer service channels.

This successful crackdown highlights the growing sophistication of voice phishing scams and the importance of staying informed to protect your finances and personal data.

5 Key Takeaways:

1. The Scale of the Scam:
   A massive voice phishing scam defrauded over 10,000 victims across Spain and Peru, generating illegal proceeds of more than €3 million.
2. Sophisticated Techniques Used:
   Scammers used caller spoofing technology, stolen databases, and scripted social engineering tactics to impersonate legitimate bank representatives. Victims were tricked into sharing sensitive banking details, including one-time passcodes.
3. International Cooperation Was Key:
   Spanish and Peruvian authorities collaborated on 29 simultaneous raids, leading to 83 arrests and the dismantling of the scam network. The operation targeted both the leadership and ground operatives, including three call centers in Peru.
4. Protective Measures Against Phishing:
   Banks never ask for personal details such as passwords or passcodes over the phone. Always verify suspicious calls directly with your bank through official channels.
5. Cybersecurity Advice:
   Implement multi-factor authentication, monitor your accounts regularly, and use anti-phishing tools for extra protection.