Costa News Spain Breaking News | English News in Spain.
Spanish police have arrested 43 people over a bank impersonation scam that targeted older customers and caused losses of more than €1.14 million, according to investigators.
The operation was led by the Policía Nacional’s financial crime unit, UDEF, and uncovered a network that allegedly posed as bank antifraud staff to trick victims into handing over money and access details.
How the scam worked
Investigators say the group used fake SMS alerts and follow-up phone calls to convince customers that their accounts were at risk. Victims were then directed to contact numbers or web pages controlled by the suspects, who allegedly posed as legitimate bank employees.
Police said the ring was structured in different layers, with separate roles for data analysis, victim contact, recruitment of money mules and laundering the proceeds. They also believe the group operated through hundreds of Telegram channels to organise the frauds.
The inquiry began after officers noticed criminal groups coordinating fraud campaigns online about a year before the arrests. Police later identified 95 people in total as suspects or persons under investigation.
According to reporting from other Spanish outlets, the operation covered around 20 provinces, including Valencia and Alicante on the Costa Blanca, as well as Barcelona, Málaga, Seville and Madrid.
Victims and losses
Police said the victims were mostly over 65, with more than 130 people affected across 134 offences. In some cases, the alleged scammers reportedly took several payments from the same victim, with one person said to have lost more than €45,000.
The force said suspects face allegations including belonging to a criminal group, fraud and money laundering. Officers carried out searches and seized digital material as part of the case.
The broader crackdown was announced on 12 November and comes amid a wider rise in bank impersonation fraud across Spain, where criminals increasingly use text messages and phone calls to build trust before moving victims’ money.
For readers looking for another recent example of this type of crime in our coverage area, see our report on the bank text scam probe.
