Spanish police dismantle Peruvian fraud ring that stole €5 million

The Spanish National Police have broken up a criminal organization of Peruvian origin that defrauded victims across Spain of more than €5 million. The scheme combined phishing, smishing and vishing to obtain banking credentials, then emptied accounts and moved the funds through a network of money‑mules and cryptocurrency purchases.

Arrests were made in Madrid and Barcelona, with three senior figures placed in provisional prison. They face charges of aggravated fraud, money‑laundering and participation in a criminal organization. Investigators say the group operated in a pyramidal structure, with leaders in Spain coordinating attacks with operational cells in Peru, and the proceeds were funneled abroad in small batches to evade detection.