Portuguese police dismantle €50 million cyber fraud scheme targeting Santander

The Polícia Judiciária’s National Cybercrime Unit (UNC3T) carried out a morning raid in Portugal, arresting several suspects in an investigation into a large-scale computer fraud. The operation focused on a scheme that used phishing to steal banking details and illicitly withdraw funds from victims, with the fraud potentially amounting to €50 million. The criminal network falsely used the name of Spain’s Santander bank and laundered the proceeds through accounts in Portugal.

Authorities have not released official figures on the number of arrests, but the raid follows coordinated searches and is expected to result in multiple detentions. The case highlights ongoing cross‑border cybercrime threats affecting both Portuguese and Spanish financial institutions.