A BANK scam gang in Spain has been brought down by the Guardia Civil with 13 arrests and five people under investigation in Madrid, Palma de Mallorca, Valencia and Toledo.
Officers have accessed a database created by the scammers containing personal and banking details of around half-a-million people with almost 2,000 possible victims already identified.
Investigations started in 2024 after a an account holder lost around €30,000 after passing personal details via a bogus bank text.
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Inquiries uncovered further crimes and a well-structured gang operating across Spain, which was dismantled by the Guardia.
The scammers sent mass SMS messages that appeared to come from banks to induce victims to access bogus websites where they entered their personal bank codes.
The fraudsters then contacted them by phone posing as bank staff to obtain the necessary verification codes.
Once they gained control of the accounts, they made cash transfers and requested pre-approved loans and other financial products using the names of the victims.
They then laundered the illegally-obtained money through numerous bank accounts to make them difficult to trace.
The Guardia Civil said the complexity of their investigation was marked by the use of false identities, accounts opened through third parties, and the immediate transfer between different entities.
They added that the gang had access to a technological infrastructure across several countries, which required the use of intense financial intelligence and technological analysis to track down their activities.
The final phase of the operation saw two house searches in the Valencia region and one in Madrid.
Mobile phones, computer equipment, electronic devices, documentation and cash related to the criminal enterprise were seized.
The Guardia Civil issued a reminder that banks never ask for access codes, passwords or verification codes from their clients by phone, SMS or email.
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