Investment fraud network busted: Tirana call centers defrauded victims across Europe

A criminal group suspected of running an investment fraud scheme through a call center in Albania has been dismantled, Europol announced today.

Europol said the operation, which involved Albanian and Austrian authorities, as many of the victims were in Vienna, resulted in the arrest of 10 people and the seizure of almost 900.000 euros in cash, Reuters reports.

Victims were initially lured by investment advertisements on social media or the internet. Call centers in Tirana were then used to provide telephone advice from individuals who falsely identified themselves as real brokers.

"The operators were organised into teams of six to eight people, each specialising in a specific language in order to target the relevant national markets. Among the languages ​​used were German, English, Italian, Greek and Spanish," Europol said.

"As is common in investment scams, language skills were used to create and build trust. The suspects relied on this element to deceive victims, presenting false investment opportunities and convincing them to transfer significant sums of money," the statement added.