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Operation “Lavanco” Thwarts Computer Fraudsters In 10 Million Euro Scam

By George Stephens • Published: 22 Oct 2019 • 11:48

Three Spanish men have been arrested in Sevilla for being involved in a  worldwide 10 million euro computer scam that targeted British Companies.
 
The scam affected firms from 12 countries overall and the scam involved sending bogus invoices to large Companies accounts departments by email on fake invoices and changed bank account details.
 
Police officers have recovered a total of €1,290,000 from the Spanish arm of the scam, which had been laundered through 16 of the gang’s bank accounts, which have now been shut down.
 
The operation was called “Operation Lavanco” and the gang members arrested age between 34 and 67, from Cuenca, Tarragona and Albacete.
 
The Spanish police worked with Europol as well as several international banks, to capture the culprits.
 
Intrigued how this scam works and how so much money can be conned out of Companies we had an exclusive EWN interview with a former online fraudster who alone massed 8 million GBP alone from similar scams.
 
Gareth Childs, who has served his time and gone totally straight after his lengthy prison sentence and repaying large amounts back after under the proceeds of crimes act said ” it’s so easy, to be honest, I’m totally ashamed of my actions but at the time it was very easy money, the large Companies just paid out on fake invoices, all you had to do was use a suppliers name and change the bank details, my largest one was International Westland Helicopters who paid me out around 1.3 million pounds on one invoice”
 
Gareth went onto say ” the public shouldn’t be concerned about these type of stories though as it doesn’t really affect them, the targets are the big Companies accounts departments, although always be safe of your bank details and never give them out unless you are totally sure you know the sender, always check emails are original” 
 
Gareth finally said ” I was a fool, I’ve done my time but I still find it odd Companies still fall for the same scam years later”
 
 
 
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