In a coordinated operation led by Europol’s European Cybercrime Centre (EC3) and the Merchant Risk Council, 59 scammers have been arrested for using stolen credit card numbers to purchase luxury items. The operation, called e-Commerce Action 2022 (eComm 2022), took place across Europe in October and involved the participation of 19 countries, including the UK, France, Germany, Spain, and Sweden.
In 2021, global e-commerce losses to online payment fraud hit $20 billion, reflecting growth of over 14% year on year. By 2027, losses are expected to increase to $40.62 billion.
To crack down on this fraud type, EC3 and the Merchant Risk Council received direct assistance from merchants, banks, logistic companies, and payment card schemes. According to Europol, investigations are ongoing in various countries, with more arrests expected in the coming weeks.
2022 e-Commerce Action
Following several months of preparation, law enforcement in participating countries raided various locations where illegally purchased goods had been dispatched. During the month-long operation, 59 arrests were made, triggering a series of new investigative leads.
The findings of eComm 2022 identified three critical threats to the e-commerce sector:
- Phishing and smishing fraud: Where criminals contact people by phone, text messages, or email and attempt to convince them to hand over their credit card information
- Account takeover fraud: When a fraudster hacks an account and has direct…
